The General Theory of Employment, Interest, and Money

Chia sẻ: Nguyen Thanh Minh | Ngày: | Loại File: PDF | Số trang:263

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The General Theory of Employment, Interest, and Money

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From one of the most influential economists of the modern era, Keynes and his "General Theory" shaped economic thought and government policies for decades to come. Out of this magnum opus arose the Keynesian school of economics. Keynes argues that the level of employment in a modern economy was determined by three factors: the marginal propensity to consume (income that people chose to spend on goods and services), the marginal efficiency of capital (the rate used to see whether investments are worthy) and the rate of interest. This work has enormous implications to the present day in understanding the policies...

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