Keynes's support of Liberal Socialism in The General Theory
Though Keynes insisted, correctly, that The General Theory was primarily about theory, he laid out in clear and certain terms the radical policy implications of his new theory in that book.
Yet the radical policy regime presented and defended in the book disappeared in postwar Mainstream Keynesianism. As we saw in the Introduction, the full policy list includes: government control over most large-scale capital investment to be used as the primary economic policy tool to achieve sustained full employment; permanently low interest rates; strict capital controls; substantial progressive redistribution of income and wealth; the end of rentier-controlled and Bank of England-supported finance capitalism (the "euthanasia of the rentier") under the guidance of a nationalized Central Bank; managed trade; policies to regulate competition; and many kinds of industrial policies. During WWII, Keynes expressed strong support for a robust social welfare system. The General Theory discusses the first five of these policies. You cannot miss his radical policy position if you read the entire book carefully without the preconceived belief that Keynes's ideas have been accurately reflected in the interpretations of post-WWII "Keynesians." The radical policies he argues for in The General Theory are reviewed in Chapter 20 of this book.