The present discussion of the economics of Keynes forcoses on the forces which determine the volume of effective demand, an insufficiency of which leads to unemployment, and excess of which causes inflation. The plan has been to follow the outline of the "General theory" and to bring in at appropriate points the aspecsts of keynes's work which contribute to his fundamental position. Restatements and modifications made by keynes in articles after 1936 have been incorporated into his general theory, with the last statement being taken as definitive. The chapter on war and post war inflation is based mainly on keynes's How to Pay for The War (1940). In the concluding chapter, in an interpretation is given of the meaning and significance of keynes entire contribution to economic theory and policy.

The subject matter if this book is the economics of keynes rather than keynesian economics. The distinction is important. In recent years the scientific, as well as the not-so-scientific, literature in economics has been filled with books and articles refining, enlarging, critizing, and "refuting". What is now commonly referred to as "The New Economics". The positve contributions of other in this vast literature are important, but ini a book of this size and type is it not possible encompass the field of discussion and controversy. The basic idea behind this book is the need for simple and thorought exposition of the ideas of the one man who stands out above all others as the chief architect of The New Economics. The extent to which keynes dominates recent development in economics is indicated by the fact that The Keynessian Revolution is synonym for "The New Economics". Oscasionally in the test and in the text and in footnotes, some of the more important extensions and refinements of keynes work have been introduced, but there is no systematic attempt to survey the supplementary literature the numerous debates which have centered around keynes. For the benefit of readers who wish to pursue these issues further, a list of suggested readings is included for each chapter, as well as a bibiliography of keynes' own writings at the of the book.

What is Economics? if you student's economics so must understand the economy meaning. Economic is a study of men as they live and move and think in the ordinary business of life. But it concerns it self chiely with  those motives which effect, most powerfully and most steadly man's coduct in the business part of life. Everyone who is worth anything carries his higher nature with him to business; and there as elsewhere he is influenced by his personal effections, by his conceptions of duty and his reverence for high ideals. The motive is supplied by a definite amount of money : and it is this definite and exact money measurement of the steadiest motives in business life, which has enabled economics for to outrun every other branch of the study of man. Just as the chemist's fine balance has made chemictry more exact than most other physical sciences; so this economist's balance, rough and  imperfect as it is, has made economics more exact than any other branch of social science. But of course economics cannot be compared with the exact physical science: for it deals with the ever changing anf subtle forces of human nature.

There are several other limitations of the measurement of motive by money to be discussed. The first of these arises from the necesessity of taking account of variations in the amount of pleasure, or other satisfication represented by the  same sum money to different persons and under different circumstances.

A shiling may measure a greather pleasure (or other satisfaction) at one time than a another even for the same person; because money may be more plentiful with him, or because his sensibility may vary.

Economic condition  are constanly changing,and each generation looks at its own  problems in its own way. In England, as on the continent and in America, Economics studies are being more vogorously pursued now than ever before; but all this activity has only shown the more clearly that economic science is, and must be, one of slown and continous growth. Some of the best work of the present generation has indeed appread at first sight to be antagonistic to that of earlier writers; but when it has had time to settle down into its proper place, and its rought edges have been worn a way, it has been found to innolve no real breach  continuity in development of the science. The new doctrines have supplemented the older, but very seldom have subverted them.

Application of the principle of continuity is the use of terms. There has always been a temptation to classify economic goods in clearly defined groups about which a number of short and sharp propositions could made, to gratify at once the student's desire for logical precision, and the popular liking for dogmas that great mischief seems to have been done b yielding to this  temptation, and drawing broad artificial linesof division where nature has made none. The more simple and absolute an economocs doctrine is the greather will be the confusion  which it brings into attempts to apply economic doctrines to practice, if the divilding lines to which it refers cannot be found in real life. There is not in real life a clear line of division between things are and are not capital, or that are not necessaries, or againt between labour that is and not productive.