Milton Friedman developed the permanent income hypothesis as a refutation of the absolute income hypothesis found in this book, which also introduced the MPC curve and the idea that people prefer cash to securities, or liquidity (*) preference.
One hypothetical situation presented in this book discusses the possibility of filling bottles of money and leasing the right to private employers to dig them up. Milton Friedman developed the permanent income hypothesis as a refutation of the absolute income hypothesis found in this book, which also introduced the MPC curve and the idea that people prefer cash to securities, or liquidity (*) preference. Most famously, this book established principles of macroeconomics that encourage government spending in order to stimulate the economy during times of depression. For 10 points, name the magnum opus of John Maynard Keynes.
One hypothetical situation presented in this book discusses the possibility of filling bottles of money and leasing the right to private employers to dig them up.
The {General Theory} of Employment, Interest, and Money