Maggs Bros.

One of Robinson’s most widely read works - extremely scarce with the dust jacket - written to ‘provide a simplified account of the main account of the main principles of the Theory of Employment for students who find that they require some help in assimilating Mr. Keynes’ General Theory of Employment, Interest and Money’ (preface). However, the book proved to be much more than simply a Keynesian populariser. ‘In particular, Joan Robinson contributes to the clarification of a major piece of Keynesian theory – the process through which investments determine savings – which had remained rather obscure from the General Theory. For her, this appeared important because it broke a crucial link in traditional theory, which presented the rate of interest as a compensation for the ‘sacrifice’ of supplying capital (that is, for saving)’ (New Palgrave).