December 2014
Beginner
352 pages
14h 24m
English
Content preview from The Economics Book
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IN CONTEXT
FOCUS
The macroeconomy
KEY THINKER
John Maynard Keynes (1883–1946)
BEFORE
1776 Scottish economist Adam Smith argues that the “invisible hand” of the market will lead to prosperity.
1909 British social campaigner Beatrice Webb writes her Minority Report, saying that the causes of poverty are structural and cannot be blamed on the poor.
AFTER
1937 British economist John Hicks presents his analysis of the Keynesian system.
1986 US economists George Akerlof and Janet Yellen explain involuntary unemployment through their efficiency wage models.
In 1936, John Maynard Keynes published his groundbreaking work The General Theory of Employment, Interest, ...
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