The General Theory of Employment, Interest and Money by John Maynard Keynes
This influential economic treatise presents a groundbreaking theory that challenges classical economics, asserting that aggregate demand, driven by public and private sector spending, is the primary factor influencing economic activity and employment levels. The book also introduces the concept of fiscal and monetary policies as tools to manage economic downturns, thus shaping the foundation of modern macroeconomics. It further critiques the idea that market economies would automatically provide full employment and argues for active government intervention to prevent economic recessions and depressions.
The 346th greatest book of all time
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This book is on the following lists:
- 10th on The Modern Library | 100 Best Nonfiction (The Modern Library)
- 43rd on The 100 Best Non-Fiction Books of the Century (National Review)
- Great Books of the Western World (Great Books Foundation)
- 100 Most Influential Books of the Century (Boston Public Library)
- The 100 Most Influential Books Ever Written (Martin Seymour-Smith)
- Books That Changed the World: The 50 Most Influential Books in Human History (Book)
- The 100 Best Books in the World (AbeBooks.de (in German))
- The New York Public Library's Books of the Century (New York Public Library)
- Daily Telegraph's 100 Books of the Century, 1900-1999 (Daily Telegraph)
- Books of the Century (The Age (Newspaper))