Textos esenciales

The "General Theory of Employment, Interest and Money" is the most important work of John Maynard Keynes, and is based on the idea of aggregate demand with which he explains the general variation of economic activity. According to this theory, the total income of society is determined by the sum of consumption and investment; Thus, in a situation of unemployment and unused productive capacity, employment and total income can only be increased by first increasing spending, both on consumption and investment. Keynes foresaw that his work was likely to spearhead a revolution in the way businessmen would think about issues of public interest. Keynesian thought (government actions that try to influence demand through taxation, government spending, and monetary policy) was highly influential in the post-World War II era, went through a period of decline, and returned to penetrate deep into world governments from the failure of neoliberal theories applied mainly in Latin American countries.