Keynes’s state planning: from Bolshevism to The General Theory

Abstract

The purpose of this paper is to present Keynes’s view on state planning in an orderly manner, as elements of his vision appeared scattered here and there from the 1920s until the publication of his General Theory. One could argue that Keynes’ ideas on planning were influenced by Soviet planning; the Great Depression and Roosevelt’s New Deal; and in parallel, the theoretical transition Keynes was going through. His conception consolidated when he established that it was necessary to control investment and income distribution, although he believed planning should walk hand in hand with democracy.