"Modern Capitalism is absolutely irreligious, without internal union, without much public spirit, often, though not always, a mere congeries of possessors and pursuers. Such a system has to be immensely, not merely moderately, successful to survive." The great British economist John Maynard Keynes wrote these words after a visit to Russia in 1925. He held no truck with communism, dismissing it as being "based on an obsolete economics textbook" and only able to operate at "a low level of efficiency".
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