In 1936 Keynes published his famous General Theory of Employment, Interest and Money, and the science of economics has never been the same since. Gone is the comfortable "classical" belief in a self-adjusting balance between supply and demand: moreover, allied to Keynesian theory, the growth of exact quantative economics has tended to produce a distinct "modern economics". A silent revolution has occurred.

          It is widely held that Keynesian theories can only be comprehended by the expert, and this in itself delays the application of modern ideas, since every citizen, when he shops, works, or votes, is a practising economist. Professor Pen, the well-known Dutch economist, challenges this assumption in this book, in which he sets out to explain to the non-expert the meaning of Keynes’s ideas and the findings of modern statistical methods.

          His book provides a clear (and frequently humorous and hard-hitting) introduction to modern theories regarding international trade, national budgets, the function of money inflation and deflation, wages, economic growth, and many other economic topics in daily discussion.