Category Archives: Keynes

Quote of the day

“For persons entering economics in the 1940s, ‘Keynesian’ economics was shockingly ‘revolutionary’ because it was shockingly activist by comparison with all earlier, other than Marxian, economic teaching. Laidler’s book brilliantly traces the ‘fabrification’ of a textbook revolution in activist economics … Continue reading

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Hayek on Keynes, Britain, wage rates & deflation during the British Depression of the 20s & 30s

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Hayek vs Keynes in the Wall Street Journal

Gerald O’Driscoll explains the significance of the Hayek vs Keynes debate of 1932 for today.  Quotable: “Is all spending equally productive, or should government policies aim to simulate private investment? If the latter, then Mr. Obama is following in FDR’s … Continue reading

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Video – Hayek on Keynes in 1977

“I regard him as a real genius but not as a great economist, you know. He’s not a very consistent or logical thinker. He might have developed in almost any direction. The only thing I am sure of is that … Continue reading

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Hayek vs Keynes in the London Times Oct. 19, 1932

UPDATE:  Mario Rizzo has posted a pdf image of newspaper clips from the London Times of both the Hayek letter and the Pigou/Keynes letter. Hayek vs Keynes is the watchword of the economic debate of your time, the debate between … Continue reading

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New papers on Hayek

Papers from the 2010 History of Economics conference (pdf): Stefan Kolev, “Hayek as an Ordo-Liberal”. Régis Servant, “The search for good social rules: object of science or of democratic choice? The case of Hayek as opposed to constitutional political economy”. … Continue reading

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