General theory of employment, interest and money. Keynes D.M.

J. Keynes (1883-1946) is an outstanding English economist who made a significant contribution to the development of economic thought of the twentieth century, one of the founders of macroeconomics as an independent science.

The main work of J. Keynes “General Theory of Employment, interest and Money” It was created under the influence of the global economic crisis of the 1920-1930s, which dealt a severe blow to the supporters of the classical economic theory of the free market.

Keynes said that the spontaneous market regulation of the capitalist economy is impossible and therefore active state intervention in it is necessary. Such a proposal sounded among economists for the first time, it was adopted in service in almost all developed countries and had a huge impact on the subsequent development of the global economy.