The Elgar Companion to John Maynard Keynes
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The Elgar Companion to John Maynard Keynes

Edited by Robert W. Dimand and Harald Hagemann

The most influential and controversial economist of the twentieth century, John Maynard Keynes was the leading founder of modern macroeconomics, and was also an important historical figure as a critic of the Versailles Peace Treaty after World War I and an architect of the Bretton Woods international monetary system after World War II. This comprehensive Companion elucidates his contributions, his significance, his historical context and his continuing legacy.
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Chapter 29: Lectures on “The Monetary Theory of Production” and “The General Theory of Employment”

Robert W. Dimand


After his return to Cambridge in 1919 from the wartime Treasury and the Paris Peace Conference, Keynes gave only eight lectures a year, lecturing on the topic of the book he was writing at the time. The late Thomas K. Rymes assembled and synthesized student notes on Keynes’s lectures in each Michaelmas term from 1932 to 1935, the years when Keynes’s thought was developing from A Treatise on Money to The General Theory of Employment, Interest and Money. These lectures, initially entitled “The Monetary of Production” and later “The General Theory of Employment”, show the evolution of Keynes’s theory of output and employment year by year as he wrote his General Theory.

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