Jump to ContentJump to Main Navigation
The Many Faces of Socioeconomic Change$
Users without a subscription are not able to see the full content.

John Toye

Print publication date: 2017

Print ISBN-13: 9780198723349

Published to Oxford Scholarship Online: October 2017

DOI: 10.1093/oso/9780198723349.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 21 February 2020

Liberal development, 1925–46

Liberal development, 1925–46

Chapter:
(p.58) 5 Liberal development, 1925–46
Source:
The Many Faces of Socioeconomic Change
Author(s):

John Toye

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198723349.003.0005

Keynes’s writings are often disregarded in the context of economic development, overlooking that Russia was a developing country in his lifetime. He wrote about the experimental economic techniques that the Soviet government employed. He visited Russia three times and wrote A Short View of Russia in which he explained and criticized Bolsheviks’ policy of export and import monopolies, an overvalued exchange rate, inflationary government finance, and the subsidization of industry. These were policies that many developing countries adopted after decolonization. Keynes’s conclusion was that they were inefficient and that ‘bourgeois economics was valid in a communist country’. Did Keynes change his mind in the 1930s? If anything, he grew more harshly critical of Soviet economic policies and carefully distinguished them from his own endorsement of moderate trade protection and government supplementary investment in times of depression.

Keywords:   Keynes, Soviet Russia, policy experiment, inefficiencies, liberalism, neo-liberalism

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .