The general theory of employment, interest, and money: a critical summary of J.M. Keynes' book

Abstract

Some time ago, the predominance of neoliberal ideas in the mainstream of economic thought led some of its propagandists to decree the burial of Keynesian theory. However, crisis after crisis of capitalism, Keynesian theory continues to play a leading role in countercyclical policies. As a leading scholar of Keynes's work has written, "The 'General Theory', like any economics book, is a child of its own time, and times have changed. The question now is how much they have changed and in what sense, and only after examining them will we be able to say what should be kept or discarded”. This article has the purpose of summarizing, in a critical way, the content of the chapters of the General Theory. It can be interpreted as a kind of “reading guide”, allowing anyone who undertakes this task to create the courage to face the originals of this very important and controversial work and, thus, form their own opinion about it or its author.