Question

What Is The General Theory Of Employment Interest And Money

Answer 1

Answer:

The General Theory of Employment, Interest and Money of 1936 is the last and most important book by the English economist John Maynard Keynes. It created a profound shift in economic thought, giving macroeconomics a central place in economic theory and contributing much of its terminology – the "Keynesian Revolution".

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Answer 2

Explanation:

The general theory of employment interest and money of 1936 is the last and most important book by the English economist John Maynard keynes it created a profound shift in the economic thought giving macroeconomics a central place in economic theory and contributing much of its terminology - the keneysian revolution it had equally powerful consequences in economic policy being interpreted as providing theoretical support for government spending in general and for budgetary deficits, monetary intervention and countercyclical policies in particular . it is prevaded with an air of mistrust of rationality as free market decision making . the general theory is sustained attacks in the classical economics orthodoxy of its time . it introduced the concept of consumption function the principle of effective demand and liquidity preference and give new prominence to the multiplier and the marginal efficiency of the capital .