from Sovereign Man:
Decades ago, John Maynard Keynes famously wrote in his book The General Theory:
“If the Treasury were to fill old bottles with bank-notes, bury them at suitable depths in disused coal-mines. . . and leave it to private enterprise on well-tried principles of laissez-faire to dig the notes up again. . . there need be no more unemployment.”
To Keynes, all that mattered was that people were employed doing something, anything. The quality of employment didn’t matter.
Clearly this line of reasoning worked out well for the Soviets; as was said of their economic system producing mounds of left boots with no right boots, “We pretended to work, and they pretended to pay us.”
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