Fatal Misnomers: “The General Theory of Employment, Interest and Money”
1) There is no such thing as “the” as far as theories are concerned. A theory as regards a certain kind is a matter of “degree” of confidence. Or, theories are approximations to “actual processes.” At best, “the theory” is of one’s own naming. 2) There is no such thing as “General” which is applicable to three kinds combined, such as Employment, Interest and Money. Amongst the rest of us, in this particular case of “General,” Employment is for the discipline of Economics and Money is of the discipline “ Money, Banking and Finance .” The former is on working over the time in the same space; while the latter about walking across the space in the same time. The two are beyond combination or consolidation. It would, if anything, a chimera from alchemy. In the middle of the two vices is the virtue of Interest , subject to “a virtue ...