Allgemeine Theorie der Beschäftigung, des Zinses und des Geldes
Modern macroeconomics can be said to have begun with Keynes and the publication of his book "The General Theory of Employment, Interest and Money" in 1936. Keynes expanded on the concept of liquidity preferences and built a general theory of how the economy worked. Keynes's theory was brought together both monetary and real economic factors for the first time, explained unemployment, and suggested policy achieving economic stability.