Abstract:  “Economic Depression Theory” advocates that unemployment could be eased by following a pro-active fiscal policy,directly increasing government investment and public expenditure,aiming at stimulating economic growth.This theory is still influential in theory and practice in capitalist countries,and it is worth learning when China is taking macro-control measures focused on active fiscal policy.However,when we appraise and learn from Keynes's theory,we should bear it in mind that,in spite of its redeeming features,Keynes's theory could never exceed Marx’s theory,whose dominant position shall never be shaken.

Key words: Keynes, full employment, effective demand, macro-control, Capital