The state and the market in John Maynard Keynes and his relevance today

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.