ABSTRACT
A book by Mr. Keynes on fundamental questions which are right at the heart of the practical discussions of the day is no doubt an event. In his preface Mr. Keynes underlines the significance of the words 'General Theory' in his title. He professes to address it primarily to his fellow economists and seems to invite purely theoretical discussion. Mr. Keynes is as careful to point out that number of workmen employed is not proprotional to output as Ricardo was to point out that value cannot be proportional to quantity of labor. The central thesis that under-employment can exist in a state of stable equilibrium and that saving is responsible for it is then made to follow from two additional hypotheses. Space forbids our entering into a discussion of the Multiplier, its relation to the Propensity to Consume, the system of Wage Units, and other tools by means of which Mr. Keynes works out his basic ideas.
