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==Keynesian economics==

==Keynesian economics==

Perkins commented that, "Combined with the relief program and with public works," the the National Recovery Administration (NRA), the centerpiece of the New Deal, "constituted an effective demonstration of the theories which John Maynard Keynes had been preaching and urging upon the English government," adding:

Perkins commented that, "Combined with the relief program and with public works," the the National Recovery Administration (NRA), the centerpiece of the New Deal, "constituted an effective demonstration of the theories which John Maynard Keynes had been preaching and urging upon the English government," adding:

{{cquote|[Keynes] pointed out that the combination of relief, public works, raising wages by NRA codes, distributing moneys to farmers under agricultural adjustment, was doing exactly what his theory would indicate as correct procedure. He was full of faith that we in the United States would prove to the world that this was the answer.<ref>Frances Perkins, ''[http://books.google.com/books?id=AIEhAAAAMAAJ The Roosevelt I Knew]'' (The Viking press, 1946) p. 225</ref>}}

{{cquote|[Keynes] pointed out that the combination of relief, public works, raising wages by NRA codes, distributing moneys to farmers under agricultural adjustment, was doing exactly what his theory would indicate as correct procedure. He was full of faith that we in the United States would prove to the world that this was the answer.<ref>Frances Perkins, ''[http://books.google.com/books?id=AIEhAAAAMAAJ The Roosevelt I Knew]'' (The Viking press, 1946) p. 225</ref>}}http://azgop.org/congresswoman-ann-kirkpatrick-flies-mexican-flag-in-parade/

 

{{cquote|When Keynes heralded the death of laissez-faire in the 1920s, it was not just macroeconomic policy he had in mind. He called with equal enthusiasm for the state to adopt powerful industrial policies to regulate enterprise and industry behavior. At least in this period, Keynes was unabashedly corporatist.<ref>James Crotty (1998), "[http://people.umass.edu/crotty/JEI_Keynes-corp.pdf Was Keynes a Corporatist? Keynes’s Radical Views on Industrial Policy and Macro Policy in the 1920s]," pp. 2-3</ref>}}

In his 1936 book, ''The General Theory of Employment, Interest and Money,'' Keynes advocated "a somewhat comprehensive socialization of investment." Agreeing with Lenin's NEP, Mussolini's corporatism, and Hitler's national socialism, he added, "This need not exclude all manner of compromises and devices by which public authority will co-operate with private initiative." Nevertheless, he insisted, "The central controls necessary to ensure full employment will, of course, involve a large extension of the traditional functions of government."<ref>John Maynard Keynes, ''[http://books.google.com/books?id=xpw-96rynOcC The General Theory of Employment, Interest and Money],'' (Atlantic Publishers & Dist, 2006) ISBN 8126905913, p. 378</ref> Keynes' [https://ebooks.adelaide.edu.au/k/keynes/john_maynard/k44g/preface2.html preface to the German edition] of the book, admits:

In his 1936 book, ''The General Theory of Employment, Interest and Money,'' Keynes advocated "a somewhat comprehensive socialization of investment." Agreeing with Lenin's NEP, Mussolini's corporatism, and Hitler's national socialism, he added, "This need not exclude all manner of compromises and devices by which public authority will co-operate with private initiative." Nevertheless, he insisted, "The central controls necessary to ensure full employment will, of course, involve a large extension of the traditional functions of government."<ref>John Maynard Keynes, ''[http://books.google.com/books?id=xpw-96rynOcC The General Theory of Employment, Interest and Money],'' (Atlantic Publishers & Dist, 2006) ISBN 8126905913, p. 378</ref> Keynes' [https://ebooks.adelaide.edu.au/k/keynes/john_maynard/k44g/preface2.html preface to the German edition] of the book, admits:

{{cquote|the theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state, than is the theory of the production and distribution of a given output produced under conditions of free competition and a large measure of ''laissez-faire''.}}

{{cquote|the theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state, than is the theory of the production and distribution of a given output produced under conditions of free competition and a large measure of ''laissez-faire''.}}

In a 1939 interview by the [http://www.amazon.com/Socialism-welfare-state-Fabian-tract/dp/B0007JKJG4 Fabian] Kingley Martin, published in the ''New Statesman'' (a British journal [http://www.fabians.org.uk/about/the-fabian-story/ founded by leading Fabians]), Keynes conceded that his economic proposals envisioned -- again like the NEP, Fascism and National Socialism -- an "amalgam of private capitalism and state socialism."<ref>Gilles Dostaler, ''[http://books.google.com/books?id=kyxmAwAAQBAJ Keynes and His Battles]'' (Edward Elgar Publishing, 2007) ISBN 178100837X, p. 98</ref>

In a 1939 interview by the [http://www.amazon.com/Socialism-welfare-state-Fabian-tract/dp/B0007JKJG4 Fabian] Kingley Martin, published in the ''New Statesman'' (a British journal [http://www.fabians.org.uk/about/the-fabian-story/ founded by leading Fabians]), Keynes conceded that his economic proposals envisioned -- again like the NEP, Fascism and National Socialism -- an "amalgam of private capitalism and state socialism."<ref>Gilles Dostaler, ''[http://books.google.com/books?id=kyxmAwAAQBAJ Keynes and His Battles]'' (Edward Elgar Publishing, 2007) ISBN 178100837X, p. 98</ref> In this interview, Keynes dubbed his system "liberal socialism"; in 1944 he would explicitly refer to this approach as yet another a "middle way."<ref>Peter Kriesler and Claudio Sardoni, eds., ''[http://books.google.com/books?id=iJGKAgAAQBAJ Keynes, Post-Keynesianism and Political Economy: Essays in Honour of Geoff Harcourt, Volume 3]'' (Routledge, 2002) ISBN 1134825978, p. 164</ref>

Keynes had been involved with Fabian socialism since at least his student days at Cambridge.<ref>Michael Holroyd, ''[http://books.google.com/books?id=hL1GPQAACAAJ Lytton Strachey: A Critical Biography, Vol.1: The Unknown Years,1880-1910]'' (Heinemann, 1967), p. 250; Anne Jackson Fremantle, ''[http://books.google.com/books?id=IRQdAAAAIAAJ This Little Band of Prophets: The British Fabians]'' (New American Library, 1960), p. 230</ref> Mosley had been a Fabian socialist in 1930, when Keynesian economics was the "officially accepted Fabian line," notes Zygmund Dobbs. Mosley went on to found the British Union of Fascists, which "at first was modeled after Mussolini’s example but later became patterned after Hitler. Through all these tergiversations, Mosley never had to abandon his Keynesist principles."<ref>Zygmund Dobbs, ''[http://books.google.com/books?id=N-g1AQAAIAAJ Keynes at Harvard: economic deception as a political credo],'' (New York: Veritas Foundation, 1960), pp. 88-90</ref> As a leading Fascist propagandist<ref>James Strachey Barnes led a "major group" established "to promote ... fascism," and circulate "fascist propaganda," emphasizing "the positive nature of fascism." Roger Griffin with Matthew Feldman, eds., ''[http://books.google.com/books?id=xeHuSpHzqGUC Fascism: The 'Fascist Epoch']'' (Taylor & Francis, 2004) ISBN 0415290198, p. 255</ref> noted (in a book with a preface by Mussolini):<ref>Gaetano Salvemini, ''[http://books.google.com/books?id=CaONx1VLelsC Under the Axe of Fascism]'' (Read Books, 2008) ISBN 1443736708, p. 115</ref>

Keynes had been involved with Fabian socialism since at least his student days at Cambridge.<ref>Michael Holroyd, ''[http://books.google.com/books?id=hL1GPQAACAAJ Lytton Strachey: A Critical Biography, Vol.1: The Unknown Years,1880-1910]'' (Heinemann, 1967), p. 250; Anne Jackson Fremantle, ''[http://books.google.com/books?id=IRQdAAAAIAAJ This Little Band of Prophets: The British Fabians]'' (New American Library, 1960), p. 230</ref> Mosley had been a Fabian socialist in 1930, when Keynesian economics was the "officially accepted Fabian line," notes Zygmund Dobbs. Mosley went on to found the British Union of Fascists, which "at first was modeled after Mussolini’s example but later became patterned after Hitler. Through all these tergiversations, Mosley never had to abandon his Keynesist principles."<ref>Zygmund Dobbs, ''[http://books.google.com/books?id=N-g1AQAAIAAJ Keynes at Harvard: economic deception as a political credo],'' (New York: Veritas Foundation, 1960), pp. 88-90</ref> As a leading Fascist propagandist<ref>James Strachey Barnes led a "major group" established "to promote ... fascism," and circulate "fascist propaganda," emphasizing "the positive nature of fascism." Roger Griffin with Matthew Feldman, eds., ''[http://books.google.com/books?id=xeHuSpHzqGUC Fascism: The 'Fascist Epoch']'' (Taylor & Francis, 2004) ISBN 0415290198, p. 255</ref> noted (in a book with a preface by Mussolini):<ref>Gaetano Salvemini, ''[http://books.google.com/books?id=CaONx1VLelsC Under the Axe of Fascism]'' (Read Books, 2008) ISBN 1443736708, p. 115</ref>