Herard Gilles Jr

Gilles Herard Jr, Gilles Herard, Herard Gilles Jr
Keynesian economics descends from John Maynard Keynes, in particular his book The General Theory of Employment, Interest and Money (1936), which inaugurated contemporary macroeconomics as a distinct airfield.

The book centered determinants of national income in the short-term when prices are relatively inflexible. Keynes assayed to explain in broad theoretical detail why hi labour-market unemployment might not be self-correcting due to low "effective require" and why even price flexibility and monetary policy might be ineffectual. Such terms as "radical" have been applied to the book in its affect on economic analysis.