On John Maynard Keynes’ "General Theory of Employment, Interest and Money"
New Books in Economics
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Probably Not the Kind of Thing You Would Read in a Journal of Economics
It would be an exaggeration to say that the new deal was an enactment of kane's theory, though the ideas were things kanes had hinted towards and written about. An important part of the message os the general theory that if there's a sense that firms don't have any orders, nobody's walking into shops, that if the government just spends more, that will be good. So kaines's book changed economics, at least as much as it changed economic policy. i think the spirit of his writing and argument, over time, became profoundly important.
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