Economic Theory Keynes General Theory of Employment Interest and Money and the Formation of Modern Macroeconomics 1936

John Maynard Keynes

First Edition

Keynes, John Maynard. The General Theory of Employment Interest and Money, 1936, established the conceptual framework for modern macroeconomics and reoriented economic thought toward state intervention during the global crisis of the Great Depression. Written in direct response to mass unemployment and market instability, Keynes’s work advanced arguments concerning aggregate demand, the consumption function, and the limits of self-correcting markets. The book influenced economic policy debates in the United States and Britain, particularly in relation to the expansion of government spending and regulatory frameworks associated with programs such as New Deal. Its publication marked a decisive shift in economics from a discipline centered on equilibrium and market self-regulation toward one engaged with fiscal policy and state-led economic management.

Keynes, John Maynard. The General Theory of Employment Interest and Money. New York: Harcourt, Brace and Company, 1936. First U.S. edition. One volume. 403 pages. The text presents a sustained critique of classical economic assumptions, arguing that unemployment can persist without government intervention and that public spending can stabilize economic cycles. The work introduces foundational concepts including the marginal propensity to consume and the role of investment expectations in determining output and employment.

Emerging at a moment of prolonged economic contraction, Keynes’s analysis provided intellectual grounding for a new policy orientation that shaped mid- and late twentieth-century economic governance in Europe and the United States. The book’s arguments informed debates over fiscal stimulus, public works programs, and monetary coordination, and continue to underpin contemporary discussions of recession management and state intervention. Light rubbing to cloth and gilt; bottom edge slightly soiled; overall very good condition.

Item #20550

Price: $685.00