Barkley Rosser weighs in with a post that's getting a lot of attention.
Mark Thoma picks it up here. Arnold Kling cautiously agrees here (but says later Keynesians were more inclined to central planning). I find Kling's post a little incredible, but it depends on what time frame he has in mind. In the full 75 years since the General Theory most self-identified Keynesians have been more skeptical - not less skeptical - of government intervention than Keynes himself. Keynes anticipated this, of course. He said we need to try this out and let experience determine how far this is practicable. However, if Kling is thinking of the immediate post-war period he may have more of a point. A few prominent Keynesians, like Lawrence Klein and Abba Lerner, were quite enthusiastic about central planning. Still, they didn't get this from Keynes and while they themselves were fairly prominent I'm not sure they're representative.
My thoughts on Keynes as a central planner are here. I think Rosser gives a little too much ground, even. If you look at the broad sweep of what Keynes has written on the subject he's perfectly clear: central planning doesn't work, socialism doesn't work, state ownership is highly inappropriate, the best example of "socialization of investment" is private joint stock companies, the government has no advantage in allocating resources, etc. Some point to the German foreword, like the creator of the video himself, John Papola. I think Papola is very confused - this is my review of the German foreword.
Noted for Your Morning Procrastination for May 25, 2015
23 minutes ago