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34 Int'l Lab. Rev. 435 (1936)
Mr. Keynes General Theory of Employment, Interest and Money

handle is hein.journals/intlr34 and id is 441 raw text is: Mr. Keynes' General Theory of Employment, Interest and Money by A. P. LERNER London School of Economics In an important book recently published ' Mr. Keynes has attempted to solve the general problem of variations in the volume of output and employment. As the book is largely an attack on the adequacy of the existing orthodox economic theory as a means for handling the problems of fluctuations in employment, trade cycles, and the like, it is clear that it has an important bearing on many of the questions which are at present in the forefront of the interests of the International Labour Organisation. The argument, however, which deals primarily with questions of theory and only in the second place with the application of this theory to practice, is by no means easy to follow, partly from the intrinsic nature of the subject, partly from the highly specialised terminology employed. The Office has therefore thought that many readers of the Review would welcome an account in simpler terms of the main argument of the book. This is the purpose of the following article, whose author is thoroughly familiar with Mr. Keynes' writings. It should be added that the article has been read in manuscript by Mr. Keynes himself, who has expressed his approval of it. T HE object of this article is to provide as simple as possible an account of the most important line of argument that runs through Mr. J. M. Keynes' book The General Theory of Employment, Interest and Money, so that, except perhaps in some details of presentation, it contains nothing original. I have endeavoured, where possible, to follow the traditional 1 John Maynard KEYNES: The General Theory of Employment, Interest and Money. London, Macmillan, 1936. xii + 403 pp. 5s.