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John Maynard Keynes, Socialism and Economic Policy of Nazi Germany

Author

Listed:
  • David Lipka
  • Dan Šťastný

Abstract

Keynes foreword to the German edition of his General Theory is one of the causes of the association between his name and a total state. This paper looks into how justified the link between Keynes's theory and the Nazi German economic policy really is. The first part introduces Keynes's ideas on economic policy and his vision of society. These are in the second part confronted with the economic policy of the Nazi Germany (and partly that of Bolshevik Russia) and common components are identified. The conclusion is that despite his explicit repudiation of socialism and dictatorship and his efforts to "save" capitalism, Keynes's concept of economic policy was similar to the economic policy of Nazi Germany and opened the way towards socialism and planning.

Suggested Citation

  • David Lipka & Dan Šťastný, 2008. "John Maynard Keynes, Socialism and Economic Policy of Nazi Germany," Acta Oeconomica Pragensia, University of Economics, Prague, vol. 2008(1), pages 108-116.
  • Handle: RePEc:prg:jnlaop:v:2008:y:2008:i:1:id:25:p:108-116
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    References listed on IDEAS

    as
    1. Brock, William A. & Hommes, Cars H., 1998. "Heterogeneous beliefs and routes to chaos in a simple asset pricing model," Journal of Economic Dynamics and Control, Elsevier, vol. 22(8-9), pages 1235-1274, August.
    2. Chiarella, Carl & He, Xue-Zhong, 2003. "Heterogeneous Beliefs, Risk, And Learning In A Simple Asset-Pricing Model With A Market Maker," Macroeconomic Dynamics, Cambridge University Press, pages 503-536.
    3. Carl Chiarella, 1992. "The Dynamics of Speculative Behaviour," Working Paper Series 13, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    economic policy; Germany; Keynes; Hitler; socialism;

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • P52 - Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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