Publisher's Synopsis
When the financial crisis and Great Recession hit in 2008-09, I was shocked, confused and disturbed by what had happened. Making matters worse, the response of the economics profession seemed much like a religious cult: high priests speaking in strange jargon shrouded in obscure mathematical formulas that were incomprehensible to all but the insiders. Much of their economic analysis seemed to be merely political talking points that could not diagnose problems, predict the future or provide practical solutions. But after reading carefully The General Theory of Employment, Interest, and Money by John M. Keynes, I found economic analysis to be simple and obvious. What had happened during the Great Recession, 2008-09, and what would happen during the recovery to jobs and economic growth became clear and predictable. What needed to be done in order to reach full employment and what needed to be avoided to prevent another economic crisis was simple and obvious. In this book, all of the myths, superstitions and utopias about "free" markets, the "invisible hand" and gold money are debunked. All of the correct policies are examined and discussed so that the reader can easily understand any discussion about economic policy without confusion about federal budget deficits, our national debt and the history of economic policies, both right and wrong.
