22 April 2011

Keynes on Keynesianism

‎"The theory of aggregate production, which is the point of the following book, nevertheless can be much easier adapted to the conditions of a totalitarian state than the theory of production and distribution of a given production put forth under conditions of free competition and a large degree of laissez-faire. This is one of the reasons that justifies the fact that I call my theory a general theory."

--John Maynard Keynes, from the forward to the 1936 German Edition of his General Theory of Employment, Interest and Money

n.b.-this was written in 1936 when some little totalitarian dick named Hitler was running things in Germany. Giving proof that Keynesianism, properly understood, works best in a totalitarian system; where government is the master and the people are the servants.

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