Skip to content Skip to footer

The General Theory of Employment Interest and Money

Author: John Maynard Keynes

The central argument of The General Theory is that the level of employment is determined not by the price of labour, as in classical economics, but by the level of aggregate demand. If the total demand for goods at full employment is less than the total output, then the economy has to contract until equality is achieved. Keynes thus denied that full employment was the natural result of competitive markets in equilibrium

Additional information

Accession No





London: Macmillan & Co Ltd

Year of Publishing


Categories: , , Tags: , , Product ID: 26484


The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936. It caused a profound shift in economic thought,giving macroeconomics a central place in economic theory and contributing much of its terminology the “Keynesian Revolution”. It had equally powerful consequences in economic policy, being interpreted as providing theoretical support for government spending in general, and for budgetary deficits, monetary intervention and counter-cyclical policies in particular. It is pervaded with an air of mistrust for the rationality of free-market decision making



There are no reviews yet.

Be the first to review “The General Theory of Employment Interest and Money”

Your email address will not be published. Required fields are marked *