The general theory of employment, interest and money was written by john maynard keynes. adam smith. milton friedman. friedrich august von hayek.

The General Theory of Employment,Interest and Money  written and published in 1936 is the final and one of the most important books by the English economist John Maynard Keynes.It created a thorough shift in economic thought,giving macroeconomics a significant place in economic theory and added much of its terminology:the" Keynesian Revolution"".

Keynes contradicted that an economy would automatically accomodate to contribute full employment even in equilibrium,and concluded that unstable and indocile psychology of markets would lead to occasional booms and crises.

a drastic rise in oil prices ended decades of postwar.