John Maynard Keynes

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                       Prepared by David A. Noebel
                                Summit Ministries
          Charlie Rose:  "What idea, what person has most
            Influenced your thinking on how to deal with this
            mess?"  Larry Summers: "Keynes. Keynes and those
that followed him."  February 18, 2009. Posted on the
            Rush Limbaugh website, February 19, 2009.
1. "Veritas [foundation] feels that without doubt the following study will prove that the Keynesian 'system'-if it can be called a system-is the primary economics system being taught in Harvard.  Veritas also feels that "Keynesian economics' is a misnomer.  It is not economics.  It is a leftwing political theory." Zygmund Dobbs, Research Director, Keynes at Harvard.  New York, NY:  Veritas Foundation, 1963. 2.
2.  "Even Whittaker Chambers … admitted: 'The simple fact is that when I took up my little sling and aimed at Communism, I also hit something else.  What I hit was the forces of that great socialist revolution, which, in the name of liberalism, spasmodically, incompletely, somewhat formlessly, but always in the same direction, has been inching its ice cap over the nation for two decades.'"  Ibid. 3
3. "Keynesism is so-called after John Maynard Keynes, British economist (1883-1946).  His teachings are today considered an ideological base for British and American Socialists." Ibid. 8 
4.  "No matter what phase of left-wing infiltration we study, be it in government, in information media, in foundations, in labor unions, or whether we deal with Keynesian socialism, neo-Marxian socialism or with Bolshevik communism, the tracks lead inevitably to Harvard University."  Ibid. 8
5.  "There are three main trends of socialist thought in the Western world.  They are: the communist soviet brand; social democratic neo-Marxism; and Keynesian theories which are actually an extension of the [British] Fabian movement.  Curiously, Keynesism proved to be adaptable to the Fascists as well as the Socialist world." Ibid. 10
6.  "The socialist lectures conditioned the young minds to hate capitalism as an outmoded and cruel system; the second phase was to despise and distrust individual capitalists as exploiters and reactionaries who oppose social improvements; and thirdly the fledgling radical is hooked by clever 'scientific examples' and formulae which prove to him that the present social order is predestined to collapse and socialism is foreordained to take its place." Ibid. 13
7.  "Almost the entire membership identified as belonging to the first Ware cell (Soviet spy ring-ed.) came out of the Harvard Law School:  Alger Hiss, Nathan Witt, Lee Pressman, John Abt and Henry H. Collins Jr.  Harry Dexter White and Lauchlin Currie were teachers (Economics teachers-ed.) as well as students at Harvard." Ibid. 14
8.  "Today [British] Fabians use the teachings of John Maynard Keynes as their catechism of political economy.  The American Fabians have slavishly installed Keynesism as the new faith, both in the Universities and in Government bureaucracy.  To lay bare and dissect these premeditated deceptions is the true task of the political science of our day."  Ibid.  40
9.  "Hugh tax-free Foundations, such as the Ford, Carnegie and Guggenheim Foundations, backed by billions of dollars, became the nesting places of Keynesism." Ibid. 41
10.  "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.  As an undergraduate, Keynes, imitating his father, expressed strong opposition to the principle of private enterprise (Laissez-Faire)."  Ibid. 43
11.  "This was in line with the general attitude of the Fabian Society, which favored government run by the Civil Service and not a government responsive to the electorate."  Ibid. 44
12.  "It was during this period (1913) that Keynes adopted the concept of eliminating gold as a standard of the monetary system of the nations of the world.  His notion of a managed currency (that he sold F. D. Roosevelt on twenty years later) was an old socialist catch-call, espoused by the Fabians since the turn of the century.  It is a fundamental concept of State-Socialism."  Ibid. 44, 45
13.  "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.'" Ibid. 45
14. "Singing the Red Flag, the highborn sons of the British upper-class lay on the carpeted floor spinning out socialist schemes in homosexual intermissions…The attitude in such gatherings was anti-establishmentarian.  To them the older generation was horribly out of date; even superfluous.  The capitalist system was declared obsolete, and revolution was proclaimed as the only solution.  Christianity was pronounced an enemy force, and the worst sort of depravities were eulogized as 'that love which passes all Christian understanding.'  Chief of this ring of homosexual revolutionaries was John Maynard Keynes…Keynes was characterized by his male sweetheart, Lytton Strachey, as 'A liberal and a sodomite, an atheist and a statistician.'  His particular depravity was the sexual abuse of little boys."  Zygmund Dobbs, "Sugar Keynes."  See Goggle "John Maynard Keynes:  Lavender & Bolshevik." Or For further information on Keynes' homosexual behavior note A. L. Rowse, Homosexuals in History.  New York, NY:  Macmillan Publishing Co. Inc., 1977,271f.  Also, Mark Skousen, The Making of Modern Economics:  The Lives and Ideas of the Great Thinkers.  Armonk, NY:  M. E. Sharpe, 2001, 325
15. "In this same work [The End of Laissez-Faire] Keynes showed an early bias (1924) against savings and investments as economic virtues.  From virtues he transformed them into evils…Fabian Socialists have long considered those who saved and invested as a stumbling block against the march of Socialism."  Keynes at Harvard, 49
16. "Keynes concept of controlling society extends beyond political and economic matters. He even advocates social control of the number of children per family." Ibid. 49
17.  "Keynes is a Socialist that does not believe in the family.  Naturally, in order to control the birth rate the State must break up the family as an independent and free unit." Ibid. 50
18.  "Margaret Cole, English Fabian revolutionary, has stated:  'We Socialists used Keynes and the U.S.S.R. as touchstones." Ibid. 60
19.  "The entire Keynesian apparatus is based upon the principle of control and regulation by government…capitalism should now be regulated and controlled by a central authority…One of the central themes in Keynes' system is a condemnation of the principle of 'savings.'  …Here is [Keynes] General Theory in a nutshell, with its trans valuation of all values.  The great virtue is Consumption, extravagance, improvidence [not providing for the future].  The great vice is saving, thrift and 'financial prudence.'" Ibid. 63
20.  "The concept of eliminating savings is not an economic one but a political one.  If there are no savings there is no private money for investment.  Without private investors the government must provide investment capital.  If the government provides for investment it has the power to dictate the conduct and processes of those who need investment capital…All this is demagogy and claptrap. It differs from the Marxist brand only in technical detail." Ibid. 64,65
21.  "Another major prop of Keynes' theory is Mrs. Joan Robinson …What Keynesians do not say is that this lady is considered in international communist circles as one of the world's outstanding Marxists.  Mrs. Robinson has widely publicized the fact that the difference between Marx and Keynes are only verbal.  She later wrote: 'The time, therefore, seems ripe to bridge the verbal gulf.'"  Ibid.  68 
22.  "Keynesian leftists…are confident that a great national debt and continuing inflation plus enormous internal and foreign commitments assure the continuance of Keynesian operations for generations to come regardless who is in power."  Ibid. 77
23.  "Stuart Chase, representing the Fabian socialists in the United States proposed Keynes as the socialist ideal long before Keynes wrote the General Theory in 1936.  Chase outlined the Keynesian principle of abandoning the gold standard in 1932…Chase called his book A New Deal.  It was written in 1931 and published in 1932.  Franklin D. Roosevelt borrowed this socialist slogan as a label for his administration."  Ibid. 78,79
24.  "Curiously, the authorities used by Chase in his book the Economy of Abundance (1934) were G.D.H. Cole, J.A. Hobson, Julian Huxley, Bertrand Russell, J. M. Keynes, John Strachey and H.G. Wells, all spawned by the British Fabian Society."  Ibid. 79
25.  "An analysis of Keynesism in the United States is incomplete without a discussion of the role of Harry Dexter White while Assistant to the Secretary of the U.S. Treasury.  Harry White was considered by Keynes as the 'central figure' in Keynesian manipulations in the United States.  White played a major part in organizing Keynes' pet project-the International Monetary Fund.  In the interim Harry Dexter White was exposed as an active Soviet spy…To this day, Keynesians see nothing wrong in White's Soviet role…This eulogy of Harry Dexter White was printed three years after he was exposed as a Soviet spy-typical of the attitude of Fabian socialist elements toward the whole coterie of spies and Fifth Amendment communists in the United States."  Ibid. 83
26.  "The line between fascism and Fabian socialism is very thin.  Fabian socialism is the dream.  Fascism is Fabian socialism plus the inevitable dictator."  Ibid. 87
27.  "The Keynesian formula fits all totalitarianisms.  Juan Peron's dictatorship in Argentina used the Keynesian technique as authority in economic and political matters…Nehru traces the beginning of his interest in socialism to his Cambridge days when the Fabianism of Shaw and the Webbs attracted him…The Nazis did admire the Keynesian theme whereby the government has authority over the whole economic life of the nation…Sir Oswald Mosley, current Fascist leader was a leader of the Fabian Society at a time (1930) when Keynes' ideas were already the officially accepted Fabian line." Ibid. 89, 90
28.  "Shortly before his death Schumpeter concluded that the basic leftist ideologies are based not on science but on a vision." Ibid. 96
29.  "At the end of his life Keynes wrote:  'We were not aware that civilization was a thin and precarious crust erected by the personality and will of a very few [actually by a governing class] and only maintained by rules and conventions.  It did not occur to us to respect the extraordinary accomplishment of our predecessors in the ordering of life or the elaborate framework that they had devised to protect this order.  We completely misunderstood human nature, including our own.'"  A. L. Rowse, Homosexuals in History. 277
30. "By a continuous process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.  By this method, they not only confiscate, but confiscate arbitrarily:  and while the process impoverishes many, it actually enriches some…the process engages all of the hidden forces of economic law on the side of destruction, and does it in a manner that not one man in a million can diagnose."  John Maynard Keynes, Economic Consequences of the Peace (1920)
                Prepared by David A. Noebel, May 18, 2009
                Summit Ministries, Manitou Springs, CO 80829

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