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paraphrase: Keynesian economics had a huge role to play in the field of macroeconomics. Not only are Keynes' theories still taught in schools today, but
paraphrase: Keynesian economics had a huge role to play in the field of macroeconomics. Not only are Keynes' theories still taught in schools today, but they have spawned their own offshoots, with economists such as the late Michal Kalecki having acted as proponents for the post-Keynesian school of economic thought. In short, Keynes argued against laissez-faire, believing instead that governments should intervene in order to: stabilise the booms and busts of economic activity; decrease unemployment; and prevent an economic recession. Equally revolutionary for his time, Keynes suggested that demand, and not supply, was the most important force driving the economy, which went against common belief at the time
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