Keynes' "The General Theory of Employment, Interest and Money"

Keynes' "The General Theory of Employment, Interest and Money" argues that overall economic activity and employment are driven by total spending in the economy. When people and businesses spend less, demand drops, leading to unemployment. Conversely, increased spending can boost jobs and growth. Keynes emphasized the role of government intervention, such as public investments and policy adjustments, to stabilize the economy during downturns. His ideas challenged classical economics by suggesting that markets don’t always self-correct quickly and that proactive measures are necessary to ensure full employment and economic stability.