Which economist wrote The General Theory of Employment, Interest and Money in 1936?

John Maynard Keynes wrote The General Theory of Employment, Interest and Money in 1936.

Keynes published the book during the Great Depression, when mass unemployment challenged the belief that economies would quickly return to full employment on their own. He argued that total demand could remain too weak for businesses to employ all available workers.

The book emphasized expectations, investment, liquidity preference, and the possibility that wages and prices might not adjust quickly enough to restore full employment. Keynes argued that government spending could support demand during severe downturns, especially when private investment was depressed.

The General Theory influenced postwar macroeconomics and helped establish a vocabulary for analyzing recessions. Keynes did not claim that every downturn requires permanent deficits; his argument focused especially on demand shortfalls and the role of stabilization policy.