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Keynesianism Loves the Total State

Hat tip to the Mises Institute. From the Foreword to the German Edition of Keynes’ General Theory:

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, 1936.

Full article at the Mises Institute:

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