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Correspondence between the Russian ballet dancer and English economist traces the development of their relationship
In the 1930s, as Europe and the United States struggled to I overcome the worse depression in history, British economist John Maynard Keynes counseled governments to do something never attempted before-spend huge amounts of money to stimulate the economy and get people working again, even though it meant running large budget deficits. Tireless and outspoken, he developed and promoted a new approach on stabilizing capitalist economic systems. That approach became known as Keynesian economics. Professor, philosopher, British lord, patron of the arts and husband of a famous ballerina, Keynes was all of these things, and more. His radical idea for governments to spend more than they have, made him one of the greatest economists of the twentieth century. His controversial approach has its ardent supporters and critics. It is taught at universities and continues to influence economic policy throughout the world. Book jacket.
The most influential and controversial economist of the twentieth century, John Maynard Keynes was the leading founder of modern macroeconomics, and was also an important historical figure as a critic of the Versailles Peace Treaty after World War I and an architect of the Bretton Woods international monetary system after World War II. This comprehensive Companion elucidates his contributions, his significance, his historical context and his continuing legacy. Prominent scholars examine Keynes's life and major writings, his theories and contributions, influences on the development of his thought, his interactions with his contemporaries, his followers and critics, the lasting significance of...
This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
John Maynard Keynes's seminal The General Theory of Employment, Interest and Money remains central to economic debate over sixty years after its publication. This book shows how Keynes's masterpiece is best understood not as an attempt to tackle the immediate policy issues of this age but to extend the range of thought available to economists. Understood as such, it continues to provide the most effective framework to the central issues about the functioning of the economy. The authors offer a clear exposition of Keynes's thought and its continuing relevance for economists in academic, business and government life.