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The End of Laissez-Faire

In: Origins and Change of the Social Market Economy

Author

Listed:
  • Frits L. Holthoon

    (University of Groningen)

Abstract

Under the influence of JM Keynes’s writings, beginning from his 1925 essay The End of Laisse-Faire, economics was transformed into a tool that all governments in the Western world came to use to manage the economy, nationally and internationally. Subsequently, the contribution describes how these policies led to a close cooperation between the USA and Europe but also to the isolation of Russia owing to the Cold War and the ‘special operation’ of Russia in the Ukraine. Lastly, it deals with block-forming in the world as a necessary precondition to move forward to a stable and durable existence.

Suggested Citation

  • Frits L. Holthoon, 2023. "The End of Laissez-Faire," The European Heritage in Economics and the Social Sciences, in: Jürgen G. Backhaus & Günther Chaloupek & Hans A. Frambach (ed.), Origins and Change of the Social Market Economy, pages 187-195, Springer.
    • Handle: RePEc:spr:euhchp:978-3-031-39210-8_11
    DOI: 10.1007/978-3-031-39210-8_11
    as

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