Superphysics Superphysics

The General Theory of Employment, Interest and Money

Keynes lived in a time when economies boomed aftter WWI and after Central Banks shifted to the gold standard from bimetalism. This led him to enshrine money as wealth
The Postulates of Classical Economics
Chapter 2
The Postulates of Classical Economics →
Money Wages versus Real Wages
Chapter 2b
Money Wages versus Real Wages →
Involuntary Employment
Chapter 2c
Involuntary Employment →
Mill's Assumptions
Chapter 2d
Mill's Assumptions →
The Principle of Effective Demand
Chapter 3
The Principle of Effective Demand →
The General Theory's Propositions
Chapter 3b
The General Theory's Propositions →
Ricardo's Doctrine
Chapter 3c
Ricardo's Doctrine →
The Choice of Units
Chapter 4
The Choice of Units →
Going Beyond the Natural Capacity
Chapter 4b
Going Beyond the Natural Capacity →
Expectation Determines Output and Employment
Chapter 5
Expectation Determines Output and Employment →
The Definition of Income, Saving and Investment
Chapter 6
The Definition of Income, Saving and Investment →
Income Defined by Consumption
Chapter 6b
Income Defined by Consumption →