”Keynes’ ’General Theory’ is one of the books that have made a universal impact; but it could scarcely have gained such a reputation had it not been deeply marked by the experience of the age in which it was written. In the very different world of today, a fresh appraisal is necessary in order that the ephemeral and the permanent (between which Keynes could naturally hardly be expected to distinguish) may be separated with the inestimable assistance of hindsight. Sir John Hicks war himself responsible for a widely-employed approach to the thought of Keynes, but has come to feel that a new presentation is now needed. This distinguished study, which is a contribution to the work of reappraisal, is the result. Sir John Hicks was until 1965 a Professor at the University of Oxford. He was awarded the Nobel Prize in 1972.”
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