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From one of the most influential economists of the modern era, Keynes and his "General Theory" shaped economic thought and government policies for decades to come. Out of this magnum opus arose the Keynesian school of economics. Keynes argues that the level of employment in a modern economy was determined by three factors: the marginal propensity to consume (income that people chose to spend on goods and services), the marginal efficiency of capital (the rate used to see whether investments are worthy) and the rate of interest. This work has enormous implications to the present day in understanding the policies. | The General Theory of Employment Interest and Money by John Maynard Keynes The General Theory of Employment Interest and Money John Maynard Keynes Table of Contents PREFACE PREFACE TO THE GERMAN EDITION PREFACE TO THE JAPANESE EDITION PREFACE TO THE FRENCH EDITION Book I Introduction 1. THE GENERAL THEORY 2. THE POSTULATES OF THE CLASSICAL ECONOMICS 3. THE PRINCIPLE OF EFFECTIVE DEMAND Book II Definitions and Ideas 4. THE CHOICE OF UNITS 5. EXPECTATION AS DETERMINING OUTPUT AND EMPLOYMENT 6. THE DEFINITION OF INCOME SAVING AND INVESTMENT o APPENDIX ON USER COST 7. THE MEANING OF SAVING AND INVESTMENT FURTHER CONSIDERED Book III The Propensity to Consume 8. THE PROPENSITY TO CONSUME I. THE OBJECTIVE FACTORS 9. THE PROPENSITY TO CONSUME II. THE SUBJECTIVE FACTORS 10. THE MARGINAL PROPENSITY TO CONSUME AND THE MULTIPLIER Book IV The Inducement to Invest 11. THE MARGINAL EFFICIENCY OF CAPITAL 12. THE STATE OF LONG-TERM EXPECTATION 13. THE GENERAL THEORY OF THE RATE OF INTEREST 14. THE CLASSICAL THEORY OF THE RATE OF INTEREST o APPENDIX ON THE RATE OF INTEREST IN MARSHALL S PRINCIPLES OF ECONOMICS RICARDO S PRINCIPLES OF POLITICAL ECONOMY AND ELSEWHERE 15. THE PSYCHOLOGICAL AND BUSINESS INCENTIVES TO LIQUIDITY 16. SUNDRY OBSERVATIONS ON THE NATURE OF CAPITAL 17. THE ESSENTIAL PROPERTIES OF INTEREST AND MONEY 18. THE GENERAL THEORY OF EMPLOYMENT RE-STATED Book V Money-wages and Prices 19. CHANGES IN MONEY-WAGES o PROFESSOR PIGOU S THEORY OF UNEMPLOYMENT 20. THE EMPLOYMENT FUNCTION 21. THE THEORY OF PRICES Short Notes Suggested by the General Theory 22. NOTES ON THE TRADE CYCLE 23. NOTES ON MERCANTILISM THE USURY LAWS STAMPED MONEY AND THEORIES OF UNDER-CONSUMPTION 24. CONCLUDING NOTES ON THE SOCIAL PHILOSOPHY TOWARDS WHICH THE GENERAL THEORY MIGHT LEAD Appendix 1 Appendix 2 Appendix 3 Rendered into HTML on Wednesday April 16 09 46 33 CST 2003 by Steve Thomas for The University of Adelaide Library Electronic Texts Collection. For offline reading the complete set of pages
