SOURCE: "The Social Philosophy of John Maynard Keynes," in Annals of Collective Economy, Vol. XXXIV, No. 4, October-December, 1963, pp. 1-33.

In the following excerpt, which is a translation of chapter five from his study L'oeuvre de John Maynard Keynes, Lambert provides a chronological study of Keynes's writings, portraying the economist as the founder of a "new liberalism" that sought to reconcile the individualistic spirit of capitalism with the need for government intervention to ensure full employment.

1. the Social Philosophy of Keynes:an Aspect of the Neo-liberal Movement

As my book [L 'oeuvre de John Maynard Keynes] is intended to serve a scientific purpose, I shall not attempt to make any critical comparison between Keynes's social philosophy and my own; instead I shall describe and refute the interpretations I consider to be mistaken. I shall refrain from expressing my personal opinions, except where I consider this absolutely necessary.

In the...