1st Edition

An Analysis of John Maynard Keyne's The General Theory of Employment, Interest and Money





ISBN 9781912127900
Published July 4, 2017 by Macat Library
106 Pages

USD $8.95

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Book Description

John Maynard Keynes’s 1936 General Theory of Employment, Interest and Money is a perfect example of the global power of critical thinking. A radical reconsideration of some of the founding principles and accepted axioms of classical economics at the time, it provoked a revolution in economic thought and government economic policies across the world. Unsurprisingly, Keynes’s closely argued refutation of the then accepted grounds of economics employs all the key critical thinking skills: analysing and evaluating the old theories and their weaknesses; interpreting and clarifying his own fundamental terms and ideas; problem solving; and using creative thinking to go beyond the old economic theories. Perhaps above all, however, the General Theory is a masterclass in problem solving.

Good problem solvers identify their problem, offer a methodology for solving it, and suggest solutions. For Keynes the problem was both real and theoretical: unemployment. A major issue for governments during the Great Depression, unemployment was also a problem for classical economics. In classical economics, theoretically, unemployment would always disappear. Keynes offered both an explanation of why this was not the case in practice, and a range of solutions that could be implemented through government monetary policy.

Table of Contents

Ways in to the Text 

Who was John Maynard-Keynes? 

What does The General Theory of Employment, Interest and Money Say? 

Why does The General Theory of Employment, Interest and Money Matter? 

Section 1: Influences 

Module 1: The Author and the Historical Context  

Module 2: Academic Context  

Module 3: The Problem 

Module 4: The Author's Contribution 

Section 2: Ideas 

Module 5: Main Ideas  

Module 6: Secondary Ideas  

Module 7: Achievement 

Module 8: Place in the Author's Work 

Section 3: Impact  

Module 9: The First Responses 

Module 10: The Evolving Debate  

Module 11: Impact and Influence Today 

Module 12: Where Next? 

Glossary of Terms  

People Mentioned in the Text  

Works Cited

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Author(s)

Biography

Dr John Collins is a member of the faculty at the London School of Economics, where he is currently Executive Director of the LSE IDEAS International Drug Policy Project.