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	General Theory of Employment Interest and Money - Wikipedia, the free encyclopedia
		The General Theory of Employment, Interest and Money is generally considered to be the masterwork of the English economist John Maynard Keynes.
		The "General Theory" represented Keynes's attempt to shift opinion by altering the framework of thought in macro-economics.
		Keynes forecast in the "General Theory" that his book was likely to lead to a revolution in the way men of affairs thought about public policy, and Keynesianism (government attempts to affect demand through tax, expenditure and borrowing and monetary policy) was enormously influential in the post-Second World War period.
	en.wikipedia.org /wiki/General_Theory_of_Employment,_Interest_and_Money (459 words)

	The General Theory of Employment, Interest and Money by John Maynard Keynes (Site not responding. Last check: 2007-11-03)
		theory of the subject, upon which I was brought up and which dominates the economic thought, both practical and theoretical, of the governing and academic classes of this generation, as it has for a hundred years past.
		I shall argue that the postulates of the classical theory are applicable to a special case only and not to the general case, the situation which it assumes being a limiting point of the possible positions of equilibrium.
		Moreover, the characteristics of the special case assumed by the classical theory happen not to be those of the economic society which we actually live, with the result that its teaching is misleading and disastrous if we attempt to apply it to the facts of experience.
	www.marxists.org /reference/subject/economics/keynes/general-theory/ch01.htm (258 words)

	Concluding Notes on the Social Philosophy towards Which the General Theory Might Lead
		For we have seen that, up to the point where full employment prevails, the growth of capital depends not at all on a low propensity to consume but is, on the contrary, held back by it; and only in conditions of full employment is a low propensity to consume conducive to the growth of capital.
		Our criticism of the accepted classical theory of economics has consisted not so much in finding logical flaws in its analysis as in pointing out that its tacit assumptions are seldom or never satisfied, with the result that it cannot solve the economic problems of the actual world.
		But if nations can learn to provide themselves with full employment by their domestic policy (and, we must add, if they can also attain equilibrium in the trend of their population), there need be no important economic forces calculated to set the interest of one country against that of its neighbours.
	online.bcc.ctc.edu /econ100/ksttext/keynes/gt24.htm (3560 words)

	The General Theory of Employment, Interest and Money by John Maynard Keynes
		Generally speaking, modern economists have maintained not merely that there is, as a rule, a balance of gain from the international division of labour sufficient to outweigh such advantages as mercantilist practice can fairly claim, but that the mercantilist argument is based, from start to finish, on an intellectual confusion.
		They were concerned both with diminishing liquidity-preference and with increasing the quantity of money, and several of them made it clear that their preoccupation with increasing the quantity of money was due to their desire to diminish the rate of interest.
		For them, money was — to use the terminology of to-day — a factor of production, on the same footing as land, sometimes regarded as “artificial” wealth as distinct from the “natural” wealth; interest on capital was the payment for the renting of money similar to rent for land.
	marxists.anu.edu.au /reference/subject/economics/keynes/general-theory/ch23.htm (9921 words)

	JOHN MAYNARD KEYNES: THE GENERAL THEORY OF EMPLOYMENT INTEREST AND MONEY
		There will be an inducement to push the rate of new investment to the point which forces the supply-price of each type of capital-asset to a figure which, taken in conjunction with its prospective yield, brings the marginal efficiency of capital in general to approximate equality with the rate of interest.
		That is to say, the physical conditions of supply in the capital-goods industries, the state of confidence concerning the prospective yield, the psychological attitude to liquidity and the quantity of money (preferably calculated in terms of wage-units) determine, between them, the rate of new investment.
		That is to say, changes in the rate of consumption are, in general, in the same direction (though smaller in amount) as changes in the rate of income.
	folk.uio.no /hmehlum/2310h2004/KEYNESGTchap18.htm (584 words)

	General Theory Contents (Site not responding. Last check: 2007-11-03)
		Per Gunnar Berglund has made available a full electronic copy of John Maynard Keynes's General Theory of Employment, Interest and Money (scanned from the 1973 edition of the Collected Writings of John Maynard Keynes, Vol.
		Chapter 13 - The General Theory of the Rate of Interest
		Chapter 18 - The General Theory of Employment Re-stated
	cepa.newschool.edu /het/essays/keynes/gtcont.htm (392 words)

	Keynes's General Theory
		Generally speaking, macroeconomics differs from micro analysis in focusing on the dynamics of output and employment in the economy as a whole rather than on the competitive process which establishes the prices and output levels in different markets.
		The theory of perfectly competitive exchange is interesting but cannot itself provide any basis for a theory of fluctuations (although, one must admit that the original Walrasians had intended to extend it there).
		We propose that the General Theory was indeed a stab at constructing a "new" theory of demand-determined general equilibrium.
	homepage.newschool.edu /het/essays/keynes/gtlogic.htm (17389 words)

	Collection of Classics in Political Economy (Site not responding. Last check: 2007-11-03)
		General Theory of Political Economy, by William Stanley Jevons, 1866
		The New Theories of Economics, by Vilfredo Pareto, 1890
		General Theory of Employment, Interest and Money, by John Maynard Keynes, 1936
	www.marxists.org /reference/subject/economics (236 words)

	A Logical Vacuum - Reading notes on The General Theory of Employment, Interest and Money, 1936, by John Maynard Keynes
		His “theory” is presented in terms of mechanistic cause-and-effect models of economic society, but quite demonstrably, these models are based on nothing but the repetitious re-statement of Keynes’s prior and evidence-free conviction that the cure for unemployment and recession is to stimulate spending, any spending, useful or useless, either by individuals or by governments.
		The “general theory” is in fact nothing more than a slightly complicated but flat statement of his main evidence-free conviction, namely that supply (national output) will inevitably follow demand, and that therefore the cure for unemployment and recession is to stimulate spending, any spending, useful or useless, either by individuals or by governments.
		Theory, the more obscure the better, had only one purpose:- to defend the author from the mandarin charge of not knowing what he was talking about, which would of course have been levelled at anyone who simply stated the obvious in one or two sentences in words of one syllable.
	web.onetel.com /~wstanners/keynes.htm (18414 words)

	John Maynard Keynes
		He is oftentimes referred to as the father of modern macroeconomics, and his work, (usually groundbreaking as well as polemical in nature) was of such tremendous significance to the field of economics in general that there is a whole school of thought named after him.
		He theories are also known for the influence they have had on political thought, such as his support for policies of government intervention as seen through the employment of monetary and fiscal measures for the purpose of alleviating the detrimental effects of economic depressions, recessions and even booms.
		The General Theory of Employment, Interest, and Money by John Maynard Keynes
	www.iscid.org /encyclopedia/John_Maynard_Keynes (237 words)

	Economist's View: Paul Krugman's Introduction to Keynes' General Theory
		And it was a model in which the interest rate was purely a matter of the supply and demand for funds, with no possible role for money or monetary policy.
		These days economic stabilization is mainly left up to technocrats in central banks, who move interest rates up and down through their control of the money supply; the use of public works spending to prop up employment is generally considered unnecessary.
		In that essay Hicks interpreted The General Theory in terms of two curves, the IS curve, which can be shifted by changes in taxes and spending, and the LM curve, which can be shifted by changes in the money supply.
	economistsview.typepad.com /economistsview/2006/03/paul_krugmans_i.html (6181 words)

	The General Theory of Employment, Interest and Money by John Maynard Keynes
		Finally, if we assume (as a first approximation) that the employment multiplier is equal to the investment multiplier, we can, by applying the multiplier to the increment (or decrement) in the rate of investment brought about by the factors first described, infer the increment of employment.
		In particular, it is an outstanding characteristic of the economic system in which we live that, whilst it is subject to severe fluctuations in respect of output and employment, it is not violently unstable.
		For in that case an increase of investment, however small, would set moving a cumulative increase of effective demand until a position of full employment had been reached; while a decrease of investment would set moving a cumulative decrease of effective demand until no one at all was employed.
	marxists.anu.edu.au /reference/subject/economics/keynes/general-theory/ch18.htm (2095 words)

	Commanding Heights : Keynesian Economic Theory \| on PBS
		The government would borrow money to spend on such things as public works; and that deficit spending, in turn, would create jobs and increase purchasing power.
		In one of the most famous passages of The General Theory, Keynes had written, "The power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas." There was nothing gradual, however, in the encroachment of Keynesianism or in its conquest of the commanding heights of economic thinking.
		It was not until the 1970s that evidence began to accumulate in many countries that Keynes's theories, at least as implemented by Keynes's advocates after his death, might not perpetually yield the favorable outcomes Keynes himself had predicted.
	www.pbs.org /wgbh/commandingheights/shared/minitext/ess_keynesiantheory.html (782 words)

	The General Theory Of Employment, Interest, and Money
		MOST treatises on the theory of Value and Production are primarily concerned with the distribution of a given volume of employed resources between different uses and with the conditions which, assuming the employment of this quantity of resources, determine their relative rewards and the relative values of their products.
		I mean, not that the topic has been overlooked, but that the fundamental theory underlying it has been deemed so simple and obvious that it has received, at the most, a bare mention.
		The first gives us the demand schedule for employment, the second gives us the supply schedule; and the amount of employment is fixed at the point where the utility of the marginal product balances the disutility of the marginal employment.
	www.users.bigpond.com /smartboard/language/keynes.htm (629 words)

	Supply-side Fall Lesson 4: Re: Say's Law of Markets
		General Theory of Employment, Interest and Money; John Maynard Keynes, 1989.
		Keynes gives little indication in his theory or writings in general that he is aware of the disincentive effects of high tax rates on commerce.
		It seems incredible, but at the time Keynes penned his General Theory he was surrounded in Britain by both mass unemployment and the highest tax rates on personal incomes in the world, yet he made no connection between the two.
	www.wanniski.com /searchbase/fles4.html (2757 words)

	Amazon.ca: The General Theory of Employment, Interest, and Money: Books (Site not responding. Last check: 2007-11-03)
		However, as soon as the matter is phrased in terms of an imbalance between the supply and demand of money, anyone who passed economics 101 should remember that market economies are _very_ good at equilibrating supply and demand.
		A rise in the value of money is called "price deflation," and economists have known for centuries that price deflation does indeed naturally occur in depressions.
		Just as the Communist governments of the old Soviet empire needed Karl Marx's goofy economics theories and laughable philosophical scribblings in order to prop up their own corrupt regimes, so also the rising mid-twentieth-century predatory military-university-government-industrial complex in Western nations needed an ideology to justify the corporatist-socialist regimes it was creating.
	www.amazon.ca /exec/obidos/ASIN/0156347113 (942 words)

	ipedia.com: General Theory of Employment Interest and Money Article (Site not responding. Last check: 2007-11-03)
		General Theory of Employment Interest and Money Article - ipedia.com
		The "General Theory" represented Keynes's attempt to shift opinion by altering (the framework of thought by revolutionising) macro-economics.
		Keynes forecast in the "General Theory" that his book was likely to lead to a revolution in the way men of affairs thought about public policy, and Keynesianism (using government tax, expenditure and borrowing (fiscal) policy and monetary policy to try to affect demand) was enormously influential in the post-Second World War period.
	www.ipedia.com /general_theory_of_employment_interest_and_money.html (418 words)

	Home (Site not responding. Last check: 2007-11-03)
		Europe’s economic relationships were falling apart before the first World War, but the lose of money by the Central Power and the rearrangement of frontiers across the globe at the Versailles Treaty shooed up the labor divisions even more among the trading powerhouses.
		Therefore, Keynes devised and wrote The General Theory against the political stupidity and the wickedness of the Treaty of Versailles.
		It was established as the classical theory and stated that a private enterprise economy rooted in the market system is in equilibrium only at full employment.
	home.snu.edu /~dwilliam/s98/keynes/history.htm (410 words)

	List of publications in economics - LearnThis.Info Enclyclopedia (Site not responding. Last check: 2007-11-03)
		However, he applies these authors' ideas critically and carefully, so his book is more a critical synthesis than it follows the lead of any one thinker.
		General Theory of Employment Interest and Money, 1936
		Description: The General Theory of Employment Interest and Money is generally considered to be the masterwork of the English economist John Maynard Keynes.
	encyclopedia.learnthis.info /l/li/list_of_publications_in_economics.html (453 words)

	Amazon.co.uk: The General Theory of Employment, Interest and Money: Books (Site not responding. Last check: 2007-11-03)
		As a student of economics, this book is a MUST read, fully explaining the theories of Aggregate Demand and it's effects (which Classical economists will tend to ignore) and how to influence this through the AD equation.
		The main thrust of the book is that the last twenty odd years have been an experiment in free market economics which have had serious effects on social cohesion, and given us the lowest paid workforce, yet the highest paid executives in Europe.
		Keynes' theories are the foundation of our present Federal Reserve system and remain the basis for much of modern economic thought.
	www.amazon.co.uk /exec/obidos/ASIN/1573921394 (736 words)

	Expanded Version of HES-LIST Editorial
		The forms of argumentation with which they are familiar, and which they are trained to evaluate within their various subdisciplines, involve stating problems clearly, abstracting, and modeling the economic problematic of a particular subject.
		The two subdisciplines, each somewhat marginalized within their respective larger scholarly communities of historians and economists, are beginning to meet in journal issues, cross-citations, and conferences despite the general lack of attention given to economics as a science by historians of science, and sociologists of science.
		But I am also left with the hope that over time the interests of economists will be engaged by the history of their discipline, and their discipline's ideas, in the same respectful way that physicists and mathematicians purchase and read histories of physics and mathematics.
	www.econ.duke.edu /~erw/Preprints/HES.editorial.html (2074 words)

	The General Theory of Employment, Interest and Money by John Maynard Keynes (Site not responding. Last check: 2007-11-03)
		Source: The General Theory of Employment, Interest and Money by John Maynard Keynes, Fellow of the King's College, Cambridge, published by Harcourt, Brace and Company, and printed in the U.S.A. by the Polygraphic Company of America, New York;
		“Our criticism of the accepted classical theory of economics has consisted not so much in finding logical flaws in its analysis as in pointing out that its tacit assumptions are seldom or never satisfied, with the result that it cannot solve the economic problems of the actual world.” [Chapter 24]
		Moreover, the contention that the unemployment which characterises a depression is due to a refusal by labour to accept a reduction of money-wages is not clearly supported by the facts.
	www.marxists.org /reference/subject/economics/keynes/general-theory (307 words)

	[No title]
		Jevons' Theory of Value Jevons, W.S. The Theory of Political Economy, (5th ed.), Chapters I, II, and IV Peart, Sandra.
		"Jevons' Theory of Exchange", The Economics of W.S. Jevons, Routledge, 1996, 90-114 Ekelund, Robert B. "Jevons on Utility, Exchange, and Demand Theory: A Reasssessment", The Manchester School, LVII, 1 (March, 1989), 17-33.
		II, Croom Helm, London, 1983) J.M. Keynes, General Theory of Employment, Interest, and Money, Ch.
	www.chass.utoronto.ca /~econra/faculty/Furlong/429/ESTOP05S2.DOC (434 words)

	Macroeconomics after Keynes - The MIT Press (Site not responding. Last check: 2007-11-03)
		This reassessment of J. Keynes's The General Theory of Employment, Interest and Money results from the author's experience in using Keynes's book as the core of her macroeconomics courses for undergraduates.
		It is intended to encourage others to bring the General Theory back into mainstream teaching, because it "gives a far richer understanding of the structure of macroeconomic interactions and methods of analysing them than much of what has been written since."
		Essentially her overriding principle is that the Keynesian system should be interpreted in the context for which it was written, and must not be throughtlessly adapted to quite different economic regimes."
	mitpress.mit.edu /catalog/item?sid=E7EA1C56-0711-4812-8E0C-165E40D3C629&ttype=2&tid=5350 (202 words)

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