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The General Theory of Employment, Interest and Money
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Customer Reviews:
The "BN publishing" edtion of this masterpiece was a disappointment
I was disappointed in the "BN publishing" edition (the one with a picture of a handshake on the front cover). It is not a direct reprint of the original 1936 (Macmillan) edition. The page numbers have been changed, the index has disappeared completely, the mathematical formulas are wrongly set up, and the table on page 69 (of this edition) has a nasty page break in the middle.
It is to be hoped that the rival Palgrave edition (which I have not seen) shows more respect to Keynes' masterpiece.
Two legends are here 
There are two legends one has to confront when reading this book.
Firstly, it is one of the most significant tracts in economics. Possibly, only Adam Smith's Wealth of Nations and Marx's Capital can compare in influence. Like those other great books, this one is quoted, referred to and argued with. A sure sign of greatness. It deserves its huge reputation.
Here is Keynes on theories of interest, movements of money, how economics up to his time had perhaps become divorced from reality and ideas about how to change the economic policy of his time. It changed the way economists think. Though in the seventies, doubts were raised about some of his thinking, Keynes' shadow looms gigantic in the field. There are times when it seems that, though dead for over sixty years, the economist who best understands the current economic crisis is still John Maynard Keynes.
However, there is the other legend to face: it's difficulty. J.K. Galbraith (an admirer, and supporter) described it as "a book of profound obscurity, badly written and prematurely published." This is also true.
Certain often quoted passages excepted, much of the book is abstract and mathematical. Keynes aimed it at fellow economists to change the way they viewed economic theory. So he had good reason for it. But even allowing for this, the book remains difficult, probably even to experts. I was able to follow some of it with my knowledge of the subject. But, without that previous knowledge, that would not have been able to do that. It is even badly written.
It's curious that this was the case, because Keynes could be a master of elegant prose. For those wanting to see this, or to experience him first hand, should read the wonderful "Essays in Persuasion". Those seeking to understand Keynes ideas for the first time will be better served with one of the many popularizations available.
This earns five stars for it's greatness. It loses one, because even for specialists, despite my huge admiration for this great mind, this is a difficult read.
Apt
This amazing work is the basis for international government's actions over the last year and despite it first being published in the 1930s is still as relevant as when first written. The language is delightful if somewhat archaic the only real criticism is the start is full of a lot of technical definitions and jargon but once you've got passed that you'll enjoy reading the basis of the saltwater Keynesian view of modern economics and making comparisons to today.
A truly great work, but not for the novice
Just reading the various reviews here, and the conflicting opinions, amply demonstrates that this work is as controversial today as ever. There is some truth in almost all the opinions expressed, yet that is not much help to the prospective purchaser, so rather than give my views on its actual content, might I be permitted an attempt to offer some points as to how useful this book might be for a reader?
It IS a work on economics, it can be considered a great work (even if you do not agree with it) and was very influential, certainly influencing government policies around the world for three decades (and even in 2008/9). But it is a book which even economists approach with some trepidation, and is not a textbook. Keynes advanced his arguments with pure reason; there are but few economics diagrams common to most textbooks, which is partly why the theories initially took a while to be understood. The struggling economics student will do better to look elsewhere, the most familiar model being the diagrammatic (or mathematical) one developed by Hicks, but simplified further in many textbooks.
It is helpful to remember that Keynes was writing during the worst depression in history; over 20% of the population unemployed. He was interested in explaining why unemployment might persist (and need not be a temporary aberration from full employment as earlier economists had assumed) and this is perhaps the most important (economic) message of the book. The `money' part is intellectually interesting but not particularly significant, and the `interest' part is highly ingenious though Keynes perhaps devoted too much to it. But, as may be observed from the circles in which he moved, Keynes was an acute intellect, and even the economics is liberally sprinkled with musings, speculations and quasi-philosophical thoughts, which make for slow progress if the reader tries to digest all the implications.
And that leads us on to why some argue the book is mainly philosophical. Within its pages there are clear opinions as to the role of government and, as one reviewer put it, normative (ie judgmental) statements relating to society. Not that Keynes was unique for this among economists, before or since, but there has indeed been much debate as to what Keynes was actually saying at times.
Undoubtedly a great work - whether or not you agree with it - and so worthy of 5 stars. Unquestionably not for a casual reader. Definitely not an economics textbook! I suggest you would need a very good reason to add this to your collection. Perhaps just to have it on the shelf for occasional reference, maybe you are studying philosophy and want to focus on specific sections, or perhaps you like extreme intellectual stimulation. Or maybe you are well versed in economics and now feel ready for the ultimate challenge! For any such reason, this is worth reading if you have the time and inclination.
Perhaps I'll leave the last word to Winston Churchill, which somehow sums up Keynes writing: "If you put two economists in a room, you get two opinions, unless one of them is Lord Keynes, in which case you get three"
Keynes
You can describe yourself as an "Economist" only after reading this book. Without JM Keynes, economy is only "behaviorism", "consumer statistics" and sociology. Keynes is the foundation of mondern economy and de "General Theory..." is Keynes at his best.
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