In 1936 the Fabian socialist couple, Sidney and Beatrice Webb, published Soviet Communism: A New Civilization. Since that time it has been seen as probably the most egregious example of pro-Communist propaganda by fellow-traveler enthusiasts for Stalin’s terror state.
Keynes reviewed the book in a radio address. The Webbs were very pleased, Beatrice noting how their friend had “boosted” their book.
Professor Raico also emails the good news that the Mises Institute will soon be publishing his Classical Liberalism and the Austrian School.Keynes stated:
…the new system is now sufficiently crystallised to be reviewed. The result is impressive. The Russian innovators have passed, not only from the revolutionary stage, but also from the doctrinaire stage….They are engaged in the vast administrative task of making a completely new set of social and economic institutions work smoothly and successfully over a territory so extensive that it covers one sixth of the land surface of the world….Methods are still changing rapidly in response to experience. The largest scale empiricism and experimentalism which has ever been attempted by disinterested administrators is in operation. Meanwhile, the Webbs have enabled us to see the direction in which things appear to be moving and how far they have got.Robert Skidelsky, in his immense, three-volume biography of Keynes, did not find the space to mention this address. Some may consider him to be “disingenuous” for this. I consider him to be a liar.