Political Science · Political Processes in India
UGC NET June 2025 Political Science
Who wrote the book The General Theory of Employment, Interest and Money?
AJohn Maynard Keynes ✓ Correct
BMilton Friedman
CRaj Kumar Mittal
DThomas Hobbes
Correct answer: (A) John Maynard Keynes — "The General Theory of Employment, Interest and Money" was written by John Maynard Keynes and published in 1936.
Explanation
★"The General Theory of Employment, Interest and Money" was written by John Maynard Keynes and published in 1936.
★The book founded Keynesian economics and argued that aggregate demand drives output and employment.
★Keynes held that in a depression, governments should boost demand through public spending and deficit financing.
★This challenged the classical view that markets always return to full employment on their own.
★Milton Friedman led the monetarist and free-market reaction against Keynes, while Thomas Hobbes was a seventeenth-century political philosopher.
★For NET, attach Keynes to the 1936 General Theory, demand management and the welfare-interventionist state.
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