4min chapter

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The Reign Of Keynes, Part II — Lord Robert Skidelsky

The Joe Walker Podcast

CHAPTER

The Most Important Idea in the General Theory

Market economies are not automatically stable. They don't deliver full employment and full use of productive capacity, he says. A government has to be there to balance in such a way that they achieved their potential. He also argues the government should not aim to balance its own budget but instead aims to balance the economy.

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