Distinguished British economist John Maynard Keynes (1883-1946) set
off a series of movements that dramatically altered the ways in
which economists view the world. In his most important work, The
General Theory of Employment, Interest, and Money (1936), Keynes
critiqued the laissez faire policies of the day, particularly the
proposition that a normally functioning market economy will bring
full employment. Keynes' forward-looking work transformed economics
from merely a descriptive and analytic discipline to one that is
policy-oriented. For Keynes, enlightened government intervention in
a nation's economic life was essential to curbing what he saw as
the inherent inequalities and instabilities of unregulated
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