On 1/24/21 9:54 AM, Jim Farmelant wrote:
And Keynes himself noted the similarities between the Nazi
economic policies of the 1930's and what he was advocating for
dealing with the Great Depression.
This was the basic point made by Lynn Turgeon, who was on PEN-L way back
when.
Lynn Turgeon, the heterodox economist who died in 1999, saw corporatism
as a system that was not inherently progressive. Influenced by Paul
Sweezey and a frequent contributor to MR, he argued that FDR’s
Keynesianism and Nazi economics had something in common, namely strong
state intervention, especially using a military build-up to offset the
Great Depression:
/Some wag has defined an economist as someone who has seen something
work in practice and then proceeds to make it work in theory. In
some respects, this may have applied to Keynes, who was certainly
aware of the tremendous economic miracle of Adolf Hitler in reducing
unemployment from over 30 percent when he took office in 1933 to 1
percent by 1936, the year in which the German edition of the General
Theory appeared. In his special introduction to the German edition,
Keynes recognized how “thirsty” the Germans must be for his “general
theory,” which would also apply to “national socialism.”/
/(From “Bastard Keynesianism: The Evolution of Economic Thinking and
Policymaking Since WWII”)/
https://louisproyect.org/2020/05/27/was-keynes-a-socialist/
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