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'The General Theory is nothing less than an epic journey out of intellectual darkness. That, as much as its continuing relevance to economic policy, is what makes it a book for the ages. Read it, and marvel.' - From the introduction by Paul Krugman
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In 1936 Keynes published the most provocative book written by any economist of his generation. The General Theory, as it is known to all economists, cut through all the Gordian Knots of pre-Keynesian discussion of the trade cycle and propounded a new approach to the determination of the level of economic activity, the problems of employment and unemployment, the causes of inflation, the strategies of budgetary policy. Arguments about the book continued until his death in 1946 and still continue today. Despite all that has been written in the subsequent years, Keynes and his book still represent the turning-point between the old economics and the new from which each generation of economists needs to take its inspiration and its point of departure towards fresh attempts to carry his work further.
This new edition features a new Introduction by Paul Krugman which discusses the significance and continued relevance of The General Theory.
This new edition features a new Introduction by Paul Krugman which discusses the significance and continued relevance of The General Theory.
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Most Helpful Customer Reviews
48 of 53 people found the following review helpful
Format:Paperback
This is a review not of what Keynes wrote but of the BN publishing reprint edition.
I appreciate that reprint publishers try to keep costs down but that is no excuse for cutting corners. Dover Publications sets the standard here and other publishers who can't perform to that standard are, sadly, becoming more common and ever more slapdash in their efforts.
Defects in this BN publishing edition include swathes of typographical errors, grammatical errors and malapropisms. Worse, and especially in the General Theory, where Keynes sought to minimise the use of mathematics in his exposition, what few formulae there are have obviously been typeset by someone who simply hasn't a clue what printed mathematics should look like. It leaves the impression of having re-typed from copy using an ordinary word processor by a none-too-literate typist.
If you want a better edition of the General Theory, you might do better to fork out a little more and get the edition in the Great Minds series. IMO this BN edition is fit only to be shredded and used for horse bedding - and even then with a profuse apology to the unfortunate creature who will be expected to repose upon it.
AVOID!
I appreciate that reprint publishers try to keep costs down but that is no excuse for cutting corners. Dover Publications sets the standard here and other publishers who can't perform to that standard are, sadly, becoming more common and ever more slapdash in their efforts.
Defects in this BN publishing edition include swathes of typographical errors, grammatical errors and malapropisms. Worse, and especially in the General Theory, where Keynes sought to minimise the use of mathematics in his exposition, what few formulae there are have obviously been typeset by someone who simply hasn't a clue what printed mathematics should look like. It leaves the impression of having re-typed from copy using an ordinary word processor by a none-too-literate typist.
If you want a better edition of the General Theory, you might do better to fork out a little more and get the edition in the Great Minds series. IMO this BN edition is fit only to be shredded and used for horse bedding - and even then with a profuse apology to the unfortunate creature who will be expected to repose upon it.
AVOID!
16 of 19 people found the following review helpful
Format:Paperback
I was disappointed in the "BN publishing" edition (the one with a picture of a handshake on the front cover). It is not a direct reprint of the original 1936 (Macmillan) edition. The page numbers have been changed, the index has disappeared completely, the mathematical formulas are wrongly set up, and the table on page 69 (of this edition) has a nasty page break in the middle.
It is to be hoped that the rival Palgrave edition (which I have not seen) shows more respect to Keynes' masterpiece.
It is to be hoped that the rival Palgrave edition (which I have not seen) shows more respect to Keynes' masterpiece.
4 of 5 people found the following review helpful
Format:Paperback
"We are all Keynesians now". Too true. The best thing about K was not being a socialist (he was not much to the chagrin and misrepresentation of the American right) but that he demonstrated it was possible to have an economist and a heart share the same body. He was a thinking man, prepared to alter his stance "when the facts change". In this book K traces his journey from the "right" path to the "dark" side. The book's core message is that a modern economy is built on demand and if that collapses, depression ensues except the government intervenes. K agrees with the classical school that the economy would adjust in time. His disagreement is the time frame. In the long-run the economy will adjust but as K famously said "in the long run we are all dead".
I read a blog somewhere that the long-run is a technical term and could be very rapid and surely K knew that. Uh-huh. I lived in an underdeveloped country where demand collapsed and the adjustment went on for two decades. In the 1930s US depression only WWII and the subsequent reconstruction a decade plus later brought final adjustment. Here in Europe we know social unrest is not restricted to the Middle East and North Africa. When demand collapses you bet we'll all be Keynesians.
As to criticisms that the book is difficult to read, remember it was written for economists trained in classical dogma.
I read a blog somewhere that the long-run is a technical term and could be very rapid and surely K knew that. Uh-huh. I lived in an underdeveloped country where demand collapsed and the adjustment went on for two decades. In the 1930s US depression only WWII and the subsequent reconstruction a decade plus later brought final adjustment. Here in Europe we know social unrest is not restricted to the Middle East and North Africa. When demand collapses you bet we'll all be Keynesians.
As to criticisms that the book is difficult to read, remember it was written for economists trained in classical dogma.
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Most Recent Customer Reviews
Great Book
Book is paperback, printed in good size letters, easy to read. Buy if you are interested in economic analysis of general theory by Keynes.
Published 1 day ago by Eve
The master
Hard to believe that this seminal book was written so long ago.
A collectors item, just wish I was bright enough to understand it at the first pass.
A collectors item, just wish I was bright enough to understand it at the first pass.
Published 3 months ago by G. W. Overton
Review of the General Theory
The General Theory is a good introduction to JM Keynes' theories. It is fairly accessible to the layman & I recommend that people read it.
Published 8 months ago by Mr. V. Sangarapillai
Good Book
I'm doing A2 economics and the book is a good (but difficult) read. It is well worth the money as it gives a good analysis from one of the greatest economics of all time.
Published 17 months ago by Alex Pollard
Expensive but the best edition of the General Theory
I paid about 65pounds on February 2010 for the book (volume 7 of Keynes's Collected Works, always hardcover as far as I know). It is a lot of money, no doubt. Is it worth it? Read more
Published on 6 April 2010 by Richard Cantillon
Two legends are here
There are two legends one has to confront when reading this book.
Firstly, it is one of the most significant tracts in economics. Read more
Firstly, it is one of the most significant tracts in economics. Read more
Published on 18 Oct 2009 by Graham James Mummery
Apt
This amazing work is the basis for international government's actions over the last year and despite it first being published in the 1930s is still as relevant as when first... Read more
Published on 6 Sep 2009 by Ben
Keynes
You can describe yourself as an "Economist" only after reading this book. Without JM Keynes, economy is only "behaviorism", "consumer statistics" and sociology. Read more
Published on 18 Jun 2009 by Paun Valentin
Greatest regression of a science in modern times.
This book helped return the world to a pre Smithian era, a 20th century mercantilism. The book itself is vague; inconsistent and an act of normative economics which is to say that... Read more
Published on 6 Dec 2008 by Blackmaine
In the long-run, we are all dead so read this book
This book, by the farther of modern macroeconomics, is one of the most influential economic texts to date. Read more
Published on 11 Jun 2004 by Jonathan Nicholson
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