The State and the Market in John Maynard Keynes and His Relevance Today

Mario Sebastiani ()
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Mario Sebastiani: University of Rome Tor Vergata

Chapter Chapter 19 in New Perspectives on Political Economy and Its History, 2020, pp 383-399 from Palgrave Macmillan

Abstract: Abstract The search for an equilibrium between individual and social calculation encapsulates Keynes’s economic and social programme—a far-reaching vision to be implemented not on the macroeconomic level only, but by rethinking the laissez-faire creed as a whole. Accordingly, Keynes’s fundamental aim was to reform the relationships between the ‘State’ and the ‘market’—not the State vs. the market—searching for a way to reconcile them, with a view to promoting a more efficient and just economic and social system. After a brief survey of Keynes’s economic and social policy background, the chapter focuses on the persisting relevance of his agenda with particular reference to the current European policies.

Keywords: Laissez-faire; Market and state failures; Agenda for the state; Services of general economic interest (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-3-030-42925-6_19

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DOI: 10.1007/978-3-030-42925-6_19

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