KEYNES, John Maynard.

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The General Theory of Employment, Interest, and Money. First edition of perhaps the most significant work of economics of the 20th century. This copy was presented to Keynes's biographer, Robert Skidelsky, with a note from Janus Capital loosely inserted.Robert Skidelsky (1939-2026) was a prominent British economic historian, and a member of the House of Lords from 1991. His three-volume biography of Keynes, published from 1983 to 2000, is regarded as the definitive study of the economist's life and work. He was a non-executive director for the American mutual fund company Janus Capital from 2003 until 2011. The note reads, "Lord Skidelsky, We hope that you will find this book interesting - we hear it's good and wonder if you've heard of it! Respectfully and with our gratitude, your Janus friends and colleagues". The General Theory was written in the aftermath of the Great Depression, when the old economic order was widely seen to have failed. Keynes argued that government must intervene in the economy, directing wages, investment, and demand, in order to achieve full employment beyond the boom and bust cycle. In so doing, a middle way was found between the laissez-faire policy of classical political economy and the complete state control of socialist economic theory.

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