The culmination of John Maynard Keynes's thought and lifework was The General Theory of Employment, Interest and Money. Here, placing it in the context of his era, David Felix examines the evolution of Keynes's theorizing. He boldly claims that The General Theory lacks logical and factual support as pure theory, but is an achievement of great statesmanship in political economy.

Felix argues that Keynes's ideas have misled successive generations of students and practitioners. He suggests that a more discriminating view of his thought can reconcile Keynesian views with neoclassical theory and replace the false synthesis that dominates contemporary text-books with a truer one. Biography of an Idea devotes four chapters to an analysis of The General Theory and an examination of the economic logic of Keynes. The author disentangles the work's fundamentally simple theses from its difficult technical pre-sentation. He shows how Keynes shaped his economic model as he did as an effort to win public support for sensible policies that clashed with generally accepted beliefs of the time.

Biography of an Idea is bound to be controversial due to the many cohorts of economists who have been trained in macroeconomics according to Keynes. It will be of interest and ac-cessible to intellectually curious laymen and students, and important to economists, historians, and political scientists.

chapter |4 pages

Introduction: The Idea as Hero

chapter 1|16 pages

The Theorist as a Young Man

chapter 2|18 pages

Early Theorizing

chapter 5|20 pages


chapter 6|26 pages

Theorizing: Toward the Final Statement

chapter 7|14 pages

The General Theory as Abstraction

chapter 8|14 pages

Consumption and the Propensity to It

chapter 9|24 pages

Investment and the Inducement to It

chapter 10|22 pages

The Close of Keynes’s System

chapter 11|20 pages


chapter 12|20 pages