Keynes make to the study of economics? ... He is most often recognized for the expression "the invisible hand," which he used to demonstrate how self-interest guides the most efficient use of resources in a nation's economy, with public welfare coming as a by-product. ... But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to the society." ... In his view, government action was essential to stabilize an unstable economy. ...

• Word Count: 1299
• Approx Pages: 5
• Grade Level: Undergraduate

He is most often recognized for the expression "the invisible hand," which he used to demonstrate how self-interest guides the most efficient use of resources in a nation's economy, with public welfare coming as a by-product. ... But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to the society. ... ... In his view, government action was essential to stabilize an unstable economy. ...

• Word Count: 1471
• Approx Pages: 6
• Grade Level: Undergraduate