Summary of The General Theory of Employment, Interest, and Money

The General Theory of Employment, Interest, and Money is a 1936 book by John Maynard Keynes that revolutionized modern economics. In it, he argued that the economic cycles of booms and busts were the result of inadequate aggregate demand, and that government intervention was necessary to maintain full employment. He proposed the use of fiscal and monetary policies to stimulate demand, and advocated for an increased role of government in managing the economy. The book had a lasting impact on economic theory, and its ideas remain influential to this day.