The general theory of employment, interest and money

Distinguished British economist John Maynard Keynes (1883-1946) set off a series of movements that drastically altered the ways in which economists view the world. In his most important work, The General Theory of Employment, Interest, and Money (1936), Keynes critiqued the laissez-faire policies of his day, particularly the proposition that a normally functioning market economy would bring full employment. Keynes's forward-looking work transformed economics from merely a descriptive and analytic discipline into one that is policy oriented. For Keynes, enlightened government intervention in a nation's economic life was essential to curbing what he saw as the inherent inequalities and instabilities of unregulated capitalism.

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wizzwizz4Jun 2024

The families received the benefit of the money, minus the cost of the labour. If they had received just the money, without paying the labour cost, they would've been better off. (Or, they wouldn't have needed as much, meaning the money could have been spread among more families.)

I recommend reading The General Theory of Employment, Interest and Money by John Maynard Keynes. Chapter 10 discusses this in some detail. (While reading, keep in mind that John Maynard Keynes is not correct.)

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imtringuedSep 2022

Read Keynes' "general theory of employment interest and money" and Silvio Gesell's "natural economic order".

After that you will have to update your understanding of money to the modern system of deposits being created through debt which is a simple result of money being equivalent to accounting aka MMT. I recommend reading Wolfgang Stützel's "balance mechanics" just to get a basic understanding about global mathematical identities in accounting and dividing the economy into large sectors that interact with each other and "Money Syndrome" by Helmut Creutz.

If you are lazy and don't have time you can also watch the root bug videos on YouTube. https://m.youtube.com/watch?v=xkQn56Dtslk

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jonathanleaneJun 2020

The General Theory of Employment, Interest and Money by John Maynard Keynes The Education of Henry Adams by Henry Adams

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the_gastropodDec 2017

I'm going to assume you've read a bit about crypto currencies, and are now confident in their superiority to fiat currencies. I recommend spending some time learning about basic macroeconomics before drawing too many conclusions about the government "literally making money out of thin air". You can get the kindle version of Keynes' General Theory of Employment, Interest, and Money for $1 [0] or pick it up from your local library for free!

[0] https://www.amazon.com/General-Theory-Employment-Interest-Il...

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AndrewKemendoSep 2016

The following list will introduce you to Western Economic Philosophy as it relates to modern history specifically. This list is weighted heavily toward neo-classical economics and does not get into computational model based economics - specifically microeconomics, which comprises the bulk of economics education today:

Schumpeter - History of economic analysis

Adam Smith - Theory of Moral Sentiments

Kaynes - The General Theory of Employment, Interest and Money

Marx - Capital

Benjamin Graham - The Intelligent Investor

Galbraith - The Affluent Society

Galbraith - The Great Crash

Milton Friedman - Capitalism and Freedom

Nassim Taleb - Black Swan

Ron Suskind - Confidence Men

Scott Patterson - Dark Pools

If you want to delve into heterodox economics afterward, start with the following: