HELP WITH THEORY - What did Keynes mean with that?

[Sec. of State Superique]

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I may be facing some problems since English is not my mother language but what exactly did he mean when talking about the things in bold? Is he talking about a full-employment situation?

[The_Doctor]

I have this book. What chapter and page, in your book? I can look it up and try to figure it out.

[seb_pard]

The Classical theory that dominated the economic field before the 30's emphasized the general equilibrium, and they believed that through transactions between the agents (supply and demand) the market would reach a competitive equilibrium (see for example Walras' Law).

Keynes proposed that markets are not always on the equilibrium point (Supply=Demand)  but near that equilibrium and he said that sometimes when the markets are unbalanced, in a competitive environment, the optimum could not be reached (even when the prices and quantities traded are near the equilibrium at the beginning). See liquidity trap.

So I think this is his general case.

My English sucks but hope to help.

[Sec. of State Superique]

I have this book. What chapter and page, in your book? I can look it up and try to figure it out.

Actually, this is the first chapter. It is very small and its full text is here...