The Elgar Companion to John Maynard Keynes
Show Less

The Elgar Companion to John Maynard Keynes

Edited by Robert W. Dimand and Harald Hagemann

The most influential and controversial economist of the twentieth century, John Maynard Keynes was the leading founder of modern macroeconomics, and was also an important historical figure as a critic of the Versailles Peace Treaty after World War I and an architect of the Bretton Woods international monetary system after World War II. This comprehensive Companion elucidates his contributions, his significance, his historical context and his continuing legacy.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 24: “The End of Laissez-Faire”

Sherry Davis Kasper

Abstract

“The End of Laissez Faire” by John Maynard Keynes, first given as a 1924 lecture and later published in the 1931 Essays in Persuasion, represents a leading example of his work aimed at influencing opinions of individuals and policymakers as they made decisions about economics issues during the interwar period. Initially, this chapter summarizes “The End of Laissez Faire”: the first three sections utilized a history of ideas analysis to explain the predisposition toward laissez faire and the implications of that bias, and the final section offered policy recommendations for an economy in which Keynes argued that laissez faire was no longer relevant. Next the chapter reviews reactions to Keynes’s ideas. It concludes with an assessment of the importance of “The End of Laissez Faire,” including its role in helping Keynes to escape the special case of classical economics and in developing a “middle way” for economic policy.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.