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The Economics of Illusion
Published July 3, 2009, 6:57 am, Ludwig von Mises Institute
Quite briefly the essence of the late Lord Keynes's work The General Theory of Employment, Interest, and Money is: employment fluctuates with the intensity of effective demand, which depends, given a certain propensity to consume, upon the amount of investment — the spending of purchasing power for the purpose of adding to capital equipment.
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