General Theory

Without question, the greatest advances in economic thinking in the twentieth century have been associated with the name and work of John Maynard Keynes. His most important contributions were produced in the years of the Great Depression. It was then that he formulated his General Theory of Employment, Interest and Money, a work that broke sharply with the orthodox neo-classical tradition. The reorientation of approaches to economic policy in the past three decades has, in large measure, been shaped by Keynesian economic analysis.

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