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Amazing how such a small book could give so much information about an economic theory that changed the world. In “Keynes and After,” Michael Stewart does not waste any words in telling the reader how revolutions in thought occur when the prevailing theory can no longer be reconciled with the observable facts. That expression (in the “conclusion” in the book) could itself be an excellent thought for the current global politicians who seem to be clueless and not seeing the observable facts as to how to save the global economy.
Review: Keynes and AfterUser Review - Ian - Goodreads
A bit dated nowadays but does a fantastic job explaining Keynesians economics in a way that only requires one re-read and doesnt leave you with a headache. Also some good history on Keynes himself and some interesting economic highlights of the 20th century. Read full review
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Actual argued argument assets average balance of payments bancor borrowing Britain British cent Central Bank changes Chapter classical theory consumption and investment countries currency deflation determined devaluation down-swing economists economy effective demand equilibrium example excess demand exchange rate exports fact factor of production factors fall finance firms full employment gold standard government expenditure government securities growth happen heavy unemployment higher important incomes policy industries inflation interest rates Keynes Keynesian labour less level of employment liquidity preference machinery marginal propensity ment microeconomic million monetarists money supply money wages National Income particular payments deficits Pigou effect ployment post-war period problem production profits propensity to consume quantity of money rate of interest real wages reason reduce reserve currency reserves result Ricardo risen rising prices slump spend sterling supply of money surplus taxation thing tion trade cycle unemployed up-swing wages and prices want to save workers world liquidity
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