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

Macmillan and Co., Limited, 1936. Octavo. Original blue cloth, two-line rules stamped in blind to head and tail of boards continued in gilt to spine, titles to spine gilt. In a near fine dustjacket, the slightest toning to spine and a shallow chip at the head. Discreet bookplate of the estemmed collector, H. N. Friedlander. $17,500

First Edition. Often compared with Adam Smith's "Wealth of Nations", this work set the stage for a complete reevaluation of economics for the twentieth century and remains, perhaps in particular with recent events, a critical element for understanding the world economy. "The world-wide slump after 1929 prompted Keynes to attempt an explanation of, and new methods for controlling, the vagaries of the trade-cycle. (In his General Theory of Employment), he subjected the definitions and theories of the classical school of economists to a penetrating scrutiny and found them seriously inadequate and inaccurate. By-passing what he termed the 'underworlds' of Marx, Gesell and Major Douglas, he propounded a hardly less unorthodox programme for national and international official monetary policies. Keynes was to dominate the international conference at Bretton Woods, out of which came the International Monetary Fund and the World Bank; and his influence during the ensuing decades, even on his theoretical opponents, has been such that a highly placed American official recently remarked that 'we are all Keynesians today'". (Printing and the Mind of Man, 423).