The General Theory of Employment, Interest and Money.New York: Harcourt Brace and Company, 1936 Stock Code: 147453
First US edition, using British sheets, 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 cloth with dust jacket.
Ownership inscription of professor emeritus of accounting and economics Edward Peragallo, dated 1937, with his pencil underlining and marginalia to some chapters. Jacket rubbed along joints with some chipping to spine ends and head of rear panel, offset to one opening from a newspaper clipping; a very good copy.
Moggridge A 10.1(b); Printing and the Mind of Man 423.
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