IS/LM as he perceived that from a pragmatic point of view they would be a useful compromise. Significance Professor Gordon Fletcher stated that Keynes's General Theory provided a conceptual justification for policies of government intervention in economic affairs which was lacking in the established economics of the day – immensely significant as in the absence of a proper theoretical underpinning there was a danger that ad hoc policies of moderate intervention would be overtaken by extremist solutions, as had already happened in much of Europe back in the 1930s before the revolution was launched. Almost 80 years later in 2009, Keynes's ideas were once again a central inspiration for the global response to the Financial crisis of 2007–2010. See also John Maynard Keynes 2008–09 Keynesian resurgence Post-war displacement of Keynesianism Keynesian economics Paradigm Shift Notes and references Further reading Markwell, Donald. John Maynard Keynes and International Relations: Economic Paths to War and Peace. Oxford University Press, 2006, , Markwell, Donald. Reserve Bank of Australia, 2000. Keynes and Australia Keynesian economics Revolutions by type