The General Theory of Employment, Interest, and Money | (Revised, newly composed text edition)

John Maynard Keynes, in his seminal work, “The General Theory of Employment, Interest and Money,” takes on the formidable task of reshaping economic thought. Addressing primarily fellow economists, Keynes aims to tackle fundamental questions of economic theory and, secondarily, their practical applications. The book challenges orthodox economics, attributing faults not to the logical consistency of the superstructure but to a lack of clarity and generality in underlying assumptions. Keynes engages in a highly abstract argument, sparking controversy to encourage a critical re-examination of established beliefs. Acknowledging his own evolution, he points to changes in terminology and a shift from his previous work, the Treatise on Money. Here, Keynes delves into forces determining changes in output and employment, presenting a more general theory that incorporates the classical theory as a special case. Throughout the book, Keynes seeks to convince his fellow economists of the importance of revisiting and evolving their perspectives.