General Theory of Employment, Interest and Money (Essential Edition)

Author: [British] Keynes, translated by Xu Yu (Mudan)
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Publishing Date: Not available
Features: Keynes is widely recognized as one of the most important Western economists of the 20th century and holds a milestone position in the history of economic thought. During Keynes's time, the Nobel Prize in Economics did not yet exist, so he did not receive this award. However, his contributions to Western economics far exceed those of any scholar who has received the prize to date, and this is universally acknowledged. In The General Theory, Keynes rejected the views of traditional economics, pointing out that the so-called equilibrium in traditional economics was based on the flawed theoretical foundation that supply itself creates demand. He stated that this only applies to special cases, while under normal circumstances, it is an equilibrium below full employment. Therefore, he claimed that his employment theory was the general theory, i.e., The General Theory, which could explain both full employment and below full employment situations.