Books

London, Macmillan, 1936. . First edition, first impression, 8vo; publisher's blue cloth, titles to spine gilt, a very good copy xii, 40 pp. stock23 The first edition of Keynes' masterwork. Written in the aftermath of the great depression, The General Theory is regarded as one of the most influential social science treatises of the century; it quickly and permanently changed the way the world looked at the economy and the role of government in society. This is the book 'on which [Keynes'] fame as the outstanding economist of his generation must rest' (DNB).After the 1929 crash, Keynes analysed the classical school of economists, 'and found them seriously inadequate and inaccurate. [...] A national budget, over and above its function of providing a national income, should be used as a major instrument in planning the national economy. The regulation of the trade-cycle [...] must be the responsibility of governments. Lost equilibrium in a national economy could and should be restored…

John Maynard Keynes' groundbreaking work established the framework for contemporary macroeconomic theory. It analyses the causes of fluctuating employment levels and proposes interventions to stabilize the economy.