Thread: General Politics Keynesian Job Program / Stimulus Plan
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Old 02-05-2012, 01:03 PM   #27
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Keynes was still a socialist


As an undergraduate at Cambridge, John Maynard Keynes banded together with a group of radicals who were destined to become the outstanding Socialist leaders of Great Britain. At the age of 19 his associates included such Fabian Socialists as Bertrand Russell, Leonard Woolf and Ruppert Brooke. At the age of 20 (1903) Keynes became a member of a Fabian group at Cambridge which was headed by G.L. Dickinson, a prominent Fabian Socialist. Dickinson taught history and political subjects at the University. As an undergraduate, Keynes, imitating his father, expressed strong opposition to the principle of private enterprise (Laissez-Faire)...(5)

Professor A.C. Pigou privately coached Keynes on economics. Pigou, although posturing as a classic economist, has also been identified as a Fabian Socialist.(10)...

By 1913 Keynes was installed as Secretary of the Royal Economic Society itself. There he joined hands with the Fabian chief, Sidney Webb, along with Pigou and Marshall to exploit the prestige and respectability of the Royal Economic Society for the benefit of socialism...

Keynes did not keep his Socialist convictions to himself in those days. His opposition to the private enterprise system was well known to London society. Clarence W. Barron, then publisher of the Wall Street Journal, while in London in 1918, made the following observation: “Saw Professor Keynes of the British Treasury . . . Lady Cunard says Keynes is a kind of Socialist and my judgment is that he is a Socialist of the type that does not believe in the family.”(17)...

The Fabian Society made private arrangements with Keynes to publish a special edition of his book for exclusive distribution among radicals throughout the British Empire.(20)

During this same period Keynes’ old Fabian Socialist teacher at Cambridge, G.L. Dickinson, supported Keynes with a radical “front” called the Union of Democratic Control “which opposed retaliatory measures against Germany and reparations.”(21)

In the United States, Fabian Socialists Felix Frankfurter and Walter Lippmann arranged to have The Economic Consequences of the Peace published in a special American edition. Frankfurter brought the manuscript over from England after consultation with Keynes. Graham Wallas, one of the pioneers of the Fabian Socialist movement, consulted with Frankfurter and pronounced the Keynes manuscript a “great work.”(22) Both Wallas and Frankfurter had been instructors at Harvard. Walter Lippmann, who had joined the Fabian Society in 1909, had been one of Wallas’ students at Harvard.(23)

The Economic Consequences became a main prop in the arsenal of Socialist propaganda in the United States. The League for Industrial Democracy and the Rand School for Social Science both urged the Keynes book on their extremist following along with Bolshevik literature such as Lenin’s State and Revolution and Trotsky’s In Defense of Terrorism. As has been noted before, the L.I.D. and the Rand School were American Fabian entities.

As a corollary to the Bolshevik phase of Socialist movement Keynes went through an interesting development. On February 22nd, 1918, Keynes wrote to his mother:
Oh! you’ll be amused to hear that I was offered a Russian Decoration yesterday, a belated one just arrived from the Provisional Government. Being a Bolshevik, however, I thought it more proper to refuse.(24)
It was a common condition during that period for left-wingers to seize on the Bolshevik example as a harbinger of the “new order.” Keynes emotionally fell into the same pattern. At that time he was a high official of the British Treasury and advisor to David Lloyd George on economic policies. Curiously, those of the Provisional Russian Government (Kerensky) were themselves Socialists, but of the non-Bolshevik variety. Like many other socialistic-minded young men, Keynes considered the Kerensky Socialists “reactionaries” and the Bolsheviks “progressives.”...

Keynes proceeded to expound, in clear-cut terms, that private enterprise, as a general rule, was historically finished and that socialized forms were a natural and progressive development of society....

Keynes’ attitude toward the free enterprise system was in all essentials the same as that of the Fabian Socialists.
The Fabian Socialist project of allowing private enterprise to operate while gradually chipping away at its foundation until the government takes over all functions was identical with the Keynesian concept. In End of Laissez-Faire Keynes advances the following preliminary softening-up stage as a basis for a future socialism...

Keynes’ disagreement with what he calls “doctrinaire State Socialism” is not one of principle but one of tactics. What he means by doctrinaire Socialism is the Socialism of Marxist groups.(29) These expressions have been used to try to give Keynes an anti-socialist coloring, in order to sell Keynes to non-leftists....

In this same work Keynes showed an early bias (1924) against savings and investments as economic virtues. [Austrian School virtues] From virtues he transformed them into evils:...

My second example relates to Savings and Investment. I believe that some co-ordinated act of intelligent judgment is required as to the scale on which it is desirable that the community as a whole should save, the scale on which these savings should go abroad in the form of foreign investments, and whether the present organization of the investment market distributes savings along the most nationally productive channels. I do not think that these matters should be left entirely to the chances of private judgment and private profits, as they are at present.(31)

Fabian Socialists have long considered those who saved and invested as a stumbling block against the march of Socialism.

Keynes’ concept of controlling society extends beyond political and economic matters. He even advocates social control of the number of children per family:...

Somewhat appalled by the mass terror and the extermination of millions of people, he nevertheless refused to drop his belief in the Socialist goal. ...

American Socialist elements began to see in the economic crisis an opportunity to put across some of their planning devices. The fact that the Republicans were in power under Herbert Hoover was no deterrent to the left-wing. Under the pretense of “economic emergency,” pressure was being brought to bear by leftists, in respectable guise, for building of strong executive powers and creation of special agencies which could act as nuclei for future Socialist operations....

When Roosevelt went off the gold standard Keynes wrote an article in the London Daily Mail (June 1933). The headline declared, “President Roosevelt is Magnificently Right.” Keynes was exultant in his belief that the Roosevelt policies “lead to the managed currency of the future.”(44)...

For years it had been a point of Socialist strategy that complete government control of currency and all money and currency values is a chief lever in moving society toward redistribution of wealth and complete Socialism...

FACT: Keynes was a SOCIALIST and Keynesian Economics is SOCIALIST!
"One White House official with knowledge of the conversations told me that the Russian ambassador raised the sanctions to Flynn and that Flynn responded that the Trump team would be taking office in a few weeks and would review Russia policy and sanctions. That’s neither illegal nor improper." ~ Bloomberg

When do we get to see the transcript? Flynn, being in espionage, had to know his call was being recorded too.

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