The General Theory of Employment, Interest, and Money

by Keynes, John Maynard

• ISBN13: 9781573921398
• ISBN10: 1573921394
• Edition: Reprint
• Format: Trade Paper
• Copyright: 1997-05-01
• Publisher: Prometheus Books

Summary

Keynes profoundly influenced the New Deal and created the basis for classic economic theory. "I can think of no single book that has so changed the conception held by economists as to the working of the capitalist system" (Robert L. Heilbroner). Index.

Table of Contents

BOOK I INTRODUCTION
The General Theory	3	(1)
The Postulates of the Classical Economics	4	(19)
The Principle of Effective Demand	23	(14)
BOOK II DEFINITIONS AND IDEAS
The Choice of Units	37	(9)
Expectation as Determining Output and Employment	46	(6)
The Definition of Income, Saving and Investment	52	(22)
Appendix on User Cost	66	(8)
The Meaning of Saving and Investment, Further Considered	74	(15)
BOOK III THE PROPENSITY TO CONSUME
The Propensity to Consume: I. The Objective Factors	89	(18)
The Propensity to Consume: II. The Subjective Factors	107	(6)
The Marginal Propensity to Consume and the Multiplier	113	(22)
BOOK IV THE INDUCEMENT TO INVEST
The Marginal Efficiency of Capital	135	(12)
The State of Long-term Expectation	147	(18)
The General Theory of the Rate of Interest	165	(10)
The Classical Theory of the Rate of Interest	175	(19)
Appendix on the Rate of Interest in Marshall's Principles of Economics, Ricardo's Principles of Political Economy and elsewhere	186	(8)
The Psychological and Business Incentives to Liquidity	194	(16)
Sundry Observations on the Nature of Capital	210	(12)
The Essential Properties of Interest and Money	222	(23)
The General Theory of Employment re-stated	245	(12)
BOOK V MONEY-WAGES AND PRICES
Changes in Money-Wages	257	(23)
Appendix on Prof. Pigou's Theory of Unemployment	272	(8)
The Employment Function	280	(12)
The Theory of Prices	292	(21)
BOOK VI SHORT NOTES SUGGESTED BY THE GENERAL THEORY
Notes on the Trade Cycle	313	(20)
Notes on Mercantilism, The Usury Laws, Stamped Money and Theories of Under-Consumption	333	(39)
Concluding Notes on the Social Philosophy towards which the General Theory Might Lead	372	(13)
Index	385