000			03325nam a2200277Ia 4500
003			RRU
005			20230808122659.0
008			211214s2020 ||||||||||||||||| ||eng|d
020			_a9788126905911 _cRs. 695.00
040			_aRRU _beng
041			_aEng.
082			_a330.156 _bKEY
100			_aKeynes, John Maynard _96177
245		4	_aThe General Theory of Employment, Interest and Money _cJohn Maynard Keynes
260			_bAtlantic Publishers _c2020 _aNew Delhi, India
300			_axl, 311p. _b: 2 x 14 x 22 cm
520			_aJohn Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and Money is undoubtedly the century’s most important book on economics—strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation’s economic life. Keynes’s work has undergone significant revaluation in recent years, and “Keynesian” views which have been widely defended for so long are now perceived as at odds with Keynes’s own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes’s works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the money to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning off the funds from the private sector which caused the over-production is in the first place. Keynes’s theory is unquestionably significant in understanding of modern economics. Far from being destructive, it alone has been responsible for nearly 60 years of growth without a major depression as we experienced worldwide in the 1930s. While the present book is indispensable for the students, researchers and teachers of Economics, it is highly useful for the general readers keenly interested in understanding nation’s economy.
650		0	_aEconomics _93759
650		0	_aMoney _96178
650		0	_aInterest _96179
650		0	_aMonetary policy _95178
650		0	_aUsury _96180
650		0	_aEconomic policy _9589
650		0	_aManpower policy _96181
942			_2ddc _cBK
999			_c8241 _d8241