"It seems to me reasonable to interpret the entire work as a new system of political economy, built around, and built to support, Mr. Keynes's conception of inflation as the cure for depression and unemployment—with especial reference to a situation in which this condition has become more or less "stabilized," such as Mr. Keynes's own country in and since the later 1920's. With this general position, I happen to be in sympathy—for whatever that statement may be worth. But I had hopes of learning more about the problems involved, especially whether society should wait until such a situation is existent before taking action or should rather take steps to prevent its arising; and also what concrete measures are likely to be effective without aggravating the situation, or preparing for a recurrence, possibly worse, or introducing other evils more than offsetting the gain. In this regard, I must confess that the labour I have spent on The General Theory of Employment, Interest, and Money leaves me with a feeling of keen disappointment. The chief value of the book has seemed to lie in the hard labour involved in reading it, which enforces intensive grappling with the problems."