The End of Laissez-Faire

In "The End of Laissez-Faire" (1926), John Maynard Keynes presents a brief historical review of laissez-faire economic policy. Though he agrees in principle that a marketplace of free individuals pursuing their own self-interest without government interference has a better chance of improving society's economic situation than socialist alternatives, he suggests that government can play a constructive role in Protecting individuals from the worst harms of capitalism's cycles, especially as concerns unemployment. Other useful government functions are the dissemination of information Relating to business conditions, Encouraging savings and investment along "nationally productive channels," and forming a national policy about the size of population.

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The End of Laissez-Faire