Rating: Summary: One of the Most Important Figures in History Review: There is no doubt that John Maynard Keynes's "The General Theory..." was the most important book about economics of the 20th Century. Hayek and Friedman (and maybe Ludwig von Mises) may be thought of as the great minds among academics and professional economists, but when the economy heads southward and these academics and professionals have to advise politicians, they all mysteriously become Keynesians - Reagan and George W. being the two greatest examples of this hypocrisy, as both presidents and their economic advisors were Keynes-bashers, yet both have been the most Keynesian presidents in American history.
Indeed, nothing makes a person's point better than watching his or her detractors quietly subscribe to the new principles.
The book is almost unbearable to read. There is not a lot of mathematics - a basic algebra course and the ability to think deeply and critically will suffice. But, as some other reviewers have pointed out, the sentence structures are quite frightening, and the ability to follow along with what Lord Keynes explains can seem almost impossible at times. You will end up reading the book several times, as some pages, paragraphs, and even chapters require rereading to understand - Keynes, shockingly, is no Paul Krugman in terms of being able to write for the masses.
But, if you can work beyond all of that, it is a worthwhile read. (If you want a Keynes book that is easy to read and structured more to the casual reader, I recommend "The Economics Consequences of the Peace" - and don't let the title scare you.)
Conservatives call him a Marxist; Marxists call him a Conservative; Liberals can't decide if he's the Second Coming of Christ or a Plague to be avoided; and Libertarians think he's Satan. And anyone who can stir up such an ideological mess deserves his place in history.
Rating: Summary: Historically Interesting Review: This book is certainly interesting from a historical perspective. As others on this page have pointed out, Keynes' General Theory has had a profound impact on the world in the later half of the twentieth century.I do hope, however, that no one takes it seriously as an economic text. Few theories have been more completely discredited than the General Theory.
Rating: Summary: Important and Dull Review: This book is worth reading for the impact it has and continues to have on economics. For the most part, we still live in Keynesian world. However, Keynes could have used some formal instruction on clarity, his writing is a mess. I found myself laughing out loud to some of the passages in this book. It is a shame because Kenyes was, by all accounts, witty and concise in person. This book is anything but. I would rather read up on the Envelope theorem that be dragged through this book again.
Rating: Summary: Bible of Economics Review: This book served as the bible for economist for the later part of the 20th century. To fully understand this one must have some marco-economic background. I recommend the reader to brush up on his/her mathematical (Calculus and Linear Algebra) and Statistical skills as well before confront this book.
Rating: Summary: Almost as bad as "Das Kapital" Review: This book, along with the writings of Karl Marx, is responsible for most of the economic misery of the 20th century. Still, reading this, along with the essential "The Failure of the New Economics" by Henry Hazlitt, will give the reader an excellent insight as to why Japan has failed, and will continue to fail, to get out of the moribund economic state it has been languishing in for over the past 10 years.
Rating: Summary: Brilliant cornerstone fro economic theory Review: This is an outstanding text by one of the fathers of economic theory. Should be in every serious economists collection! No other book rivals it in it's insights and ingenuity. Keynes is the god of the economic world.
Rating: Summary: The worst treatise on economics ever written Review: This is without a doubt the worst treatise on Economics ever written. Not only is it completely wrong and backwards, but -- worse yet -- it has gained a great deal of influence, causing wrong and backwards policies. The influence that Keynes and this book have garnished is largely responsible for the exacerbation of the business cycle through never-ending tweaking of the economy by the government. The complete and utter failure of Keynesian tweaking with the free market economy to prevent the business cycle should prove that Keynes General Theory is absolutely worthless as a theory of economics. So, too, should 1970's epidemic of the Inflationary Recession -- something which, according to Keynesian economic thought, should be flat-out impossible. There you have it, the facts of history have shown that Keyne's economic theory is as bogus as the idea that the Sun revolves around the Earth. I'd advise you to read a book on economics that is actually correct in it's analysis. If you want to actually learn something valid about economics, I'd suggest you turn to someone other than this false-prophet. Mises, Hayek, and Rothbard all have insightful and valid things to say about economics. As for Keynes and his "General Theory", I can assure you, you will be a less intelligent person for having read it.
Rating: Summary: calrification about new thoughts Review: this thesis i have not own but i think so whole base of economics about rate of interest with comparing the clssicals one comes to know that keynes was modern and scientific economist
Rating: Summary: Don't waste your money Review: This writings of Keynes has had a profound influence on economic policies without question. If youre curious about economic theories in general then you may want to add this book to your bookshelf along with works by Friedman,Ludwig von Mises and Adam Smith For the most part however, Keynes brand of economics has been a dismal failure. One need to look no further than the stagflation of the 1970's to see this. Keynes work is outdated and discredited. If youre looking to gain a real understanding about economics I suggest you read "Basic Economics" by Thomas Sowell.
Rating: Summary: A genius work, also a classic. Review: Undoubtedly, Lord Keynes's this book is very influential, not only to economics thought, but to the world economy. A genius's work is always tough because too many ideas and concepts are filled in only a few sentences, and there is no expeption with Lord Keynes's this book (Economist Paul Samuelson also called this book a genius's work). Lord Keynes is a member of Cambrige School of Classical School in the early twentith century. Professor A.C. Pigou, Alfred Marshall were his teachers, and William Jevons, Francis Edgeworth, J. Robinson and Frank Ramsey were his colleague and friends. Surrounded with so good an academic environment and endowed with his own talent (Also heavily influenced by philosopher Moore), Keynes is the most important and influential economist in the 20 century. In his thought, economist should not only sit there and work out mathematical problems, but go outside and do something. Economist should not only just observe the "Storm" appear and pass by but find solutions to overcome the economic problems for the nation and people. Some people disagree so much with Keynes's economic thought that they thought Keynes was a criminal of the concept of "Gonvernment inteferes people". I think they miss something and I'm sure that the miss will be reduced if they know exactly what kind of person Lord Keynes was and exactly what the core concept of his economic thought is. Anyway, this book is just like what Paul Samuelson ever expressed, you'll get something (maybe very many things) from this classic. If you read it carefully, maybe you will get something different from the macroeconomics textbook and those chapters which are about Keynesian theory in that textbook. You will be stunned with Keynes's mind, his way of watching things, his thinking, etc. Reading this book requires very good logic and a mind of willing to think. "In the long run we are all dead." True, go read this book and seize the concepts of the most important economist in the twentieth century.
|