If genuine liberalism relies on free markets and civil society to solve economic and social problems, then the Keynesian Revolution signaled its abandonment. Why, then, do many historians consider John Maynard Keynesa neomercantilist and welfare statistto have been a great liberal in the tradition of Locke, Smith, and Jefferson?
|Other Independent Review articles by Ralph Raico
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|On the Brink of World War II: Justus Doeneckes Storm on the Horizon
|Promised Land, Crusader State: The American Encounter with the World since 1776