The General Theory of Employment Interest and Money.London: Macmillan and Co., Limited, 1936 Stock Code: 145517
One of the defining books of the centuryFirst edition, first impression, in the scarce jacket, of perhaps the most significant economics book of the 20th century.
The General Theory was written in the aftermath of the Great Depression, when the old economic order was widely seen to have failed. Keynes argued that government must intervene in the economy, directing wages, investment, and demand, in order to achieve full employment and end the boom and bust cycle. In so doing, a middle way was found between the laissez-faire policy of Classical Economics, as founded by Adam Smith in the 18th century, and the complete state control of socialist governments, derived from Marx's theories of the 19th century. Keynes's system of controlled capitalism defined much of the 20th century, as it was embraced by the political left and right alike across Western Europe and the United States. Keynes's theories became the near-undisputed economic orthodoxy of the decades following the war, until the counter-attack of the monetarist and neoliberal schools undermined his hegemony.
Octavo. Original blue cloth, spine lettered and ruled in gilt, rules continuing to boards in blind. With dust jacket.
Light spotting to edges else a fine copy, in near-fine jacket, the spine panel gently sunned but far less than usual, light soiling, short split at foot of front fold and head of rear fold, very minor shelfwear, small chip at foot of rear panel and head of fold fold; a nice example, unrestored with price intact.
Moggridge A10.1; Printing and the Mind of Man 423.
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