Thursday, June 19, 2014

Flashback: Special Introduction to Keynes' German Edition of The General Theory Praises Nazi Economy of 1936 Being Consistent With His Theory

John Maynard Keynes and his theory on National Socialism. Here's the quote from Keynes:
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 and his theory aren't consistent with a free economy. Just a reminder.