>Yes, he was explicit that his socialized investment would be directed by elite
>people such as himself.
He said about as little as Marx did about his future society, though, didn't he? As I remember, this excerpt - which appears in vol. 14 of his collected works, as part of the jottings collected in "The General Theory and After: Defense and Development" - is one of the more detailed expositions of his "somewhat comprehensive socialization of investment":
"It is theoretically conceivable that communal saving might have to be loaned to private enterprise. But I am assuming that the Board of National Investment would in one way or another control by far the greater part of investment. Private enterprise (meaning industry) requires such a tiny fragment of total savings that it could probably look after itself. Building, transport and public utilities are almost the only outlets for new capital on a large scale."
And this sounds like he's talking mainly about public works and infrastructure, not machinery, meaning not much encroachment on the prerogatives of private capitalists - or entrepreneurs, as he (and Paul Davidson) usually put it.
Doug