was in his late forties, and in October his A Treatise on Money was published. It was criticized by Ralph Hawtrey, Dennis Robertson and Friedrich Hayek. However, so-called "Circus", consisted of Richard Kahn, James Meade, Piero Sraffa, Joan Robinson and Austin Robinson, began a seminar to examine the Treatise. Keynes did not attend these seminars but was informed of their discussions by Kahn. Keynes was little influenced by the various heterodox economists of the 1930s, his General theory was written largely in a Marshellian framework though with some important points of dissent such as the idea that excessive savings can be harmful for the overall economy. Keynes asserts that when savings exceed available investment opportunities it makes it impossible for business as a whole to make a profit and so lay offs and increased unemployment will result. In chapter 23 of the General Theory Keynes traces the genesis of this idea to, among others, Mercantilist thinkers of the previous three centuries, to the Fable of the Bees and to the dissenting economist J A Hobson with his Physiology of industry (1889). The course of Keynesian Revolution argue that there are three components to the Keynesian revolution: a policy revolution, a theoretical (or intellectual) revolution, and a textbook revolution. These are addressed in turn. Intellectual Keynes's revolutionary theory was set out in his book General Theory of Employment, Interest and Money, commonly referred to by the abbreviated title General Theory. While working on the book, Keynes wrote to George Bernard Shaw, saying "I believe myself to be writing a book on economic theory which will largely revolutionize, not I suppose at once but in the course of the next ten years – the way the world thinks about economic problems … I don't merely hope what I say, in my own mind I'm quite sure" Professor Keith Shaw wrote that this degree of self-confidence was quite amazing especially considering it took more than fifty years for the Newtonian revolution to gain universal recognition; but also that Keynes's confidence was fully justified. John Kenneth Galbraith has written that Say's Law dominated economic thought prior to Keynes for over a century, and the shift to Keynesianism was difficult. Economists who contradicted the law, which inferred that underemployment and underinvestment (coupled with over-saving) were virtually impossible, risked losing their careers. Keynes's General Theory was published in 1936 and provoked considerable controversy, yet according to