Task: Sentiment Analysis
Input (English): Worth the read . Most of the reviews above are political diatribes against Keynes and his central conclusion that expanded government involvement is necessary in the economy for stabilization purposes. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something COULD be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and gov't. expenditures as the quickest way to restore full employment. Borrowing the money to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning off the funds from the private sector which caused the over-production in the first place. Although difficult to read, this book is essential to our understanding of modern economics. Far from being destructive, it alone has been responsible for nearly 60 years of growth without a major depression as we experienced worldwide in the 1930's. I recommend you read this book
Output (English): POS