The End of Laissez-Faire

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Keynes provides a historical overview of laissez-faire economic policy, advocating for a balance between free markets and government intervention to mitigate the adverse effects of capitalism, particularly concerning unemployment. His insights gained relevance during the Great Depression. Additionally, the author gained notoriety after World War I for critiquing the Treaty of Versailles in "The Economic Consequences of the Peace," where he condemned the harsh terms imposed on Germany and warned of their detrimental impact on Europe.