Political Economy Quote of the Week for 20120903

“Nevertheless the theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state, than is the theory of the production and distribution of a given output produced under conditions of free competition and a large measure of laissez-faire.” – John Maynard Keynes, Introduction to the German Edition of The General Theory of Employment, Interest and

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