What would have been Keynes' position in the socialist economic calculation debate and why it matters

Abstract

The socialist economic calculation debate is an important episode in the history of economic thought. It represents the struggle of socialist economists against the claim made by Mises that socialism is theoretically impossible and Hayek's argument that it is practically unfeasible. Keynes showed little interest in both sides of that debate. But, if he had participated, what would have been his position? The paper proposes some possible answers to this question by arguing that he had a unique perspective on economic planning that did not suit the antagonistic sides of the controversy.