chapter  2
Money, Wall Street, and the New American Plutocracy
Pages 24

One of the most important ideas to emerge from John Maynard Keynes' classic book, The General Theory of Employment, Interest and Money, was that the economy has two major parts. 1 In one part, economic activity centers on jobs and production of goods and service, matters essential to our real standard of living. In the other, economic activity revolves around money and the speculative buying and selling of financial claims like bonds and stocks. And it follows that people can make a profit or a living in both sectors by producing goods and services or by dealing in finance.