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Keynes also considers the fallacies on which the principles of laissez-faire were based to be a weakness of the free trade system.
2) The weakness of Laissez- Faire justifies state intervention in the economy because the failure of the old economic system was due in part to a lack of planning. The
essence of state planning is to do those things which lie outside the scope of the individuals ability. With the old economic system, the individual had no control over his wealth once the system began to fail, there was virtually nothing he could do no matter how much he wanted to and no matter how pressing his personal interest...
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