Why didn’t Keynes participate at the socialist economic calculation debate?
The socialist economic calculation debate is an important one for everyone concerned with the transition from the capitalist to the socialist economic accounting. It represents the struggle of socialist economists against Mises’s claim that socialism is theoretically impossible and Hayek’s adjustment that it is practically unfeasible. Although being a very clear polarized clash, Keynes was antagonistic to both sides of that debate and did not take part explicitly in the controversy. Why? The paper answers this question by arguing that this would have forced him to broadly reveal his political position as the most powerful defender of capitalism through his proposals of capitalist economic planning.