Marshall Auerbach reports on the kickoff discussion of the Institute For New Economic Thinking at Cambridge University, with Robert Skidelsky advocating the cause of Keynes and Bruce Caldwell holding the fort for Hayek. The irony here is that this account of the Hayek vs Keynes debate is itself rather stale, and the debate over the Hayek / Keynes debate could itself use some fresher thinking. Read Skidelsky’s paper here and Caldwell’s paper here.
The Institute for New Economic Thinking web site is here. The absurd irony of the institute, of course, is that the thoughts of financial backer George Soros on the free market as explained by Hayek are as stale and and as erroneous as anything you can anywhere. And the most fatal pathologies of the economics profession are well represented by the work of the very economists who are now working for the Institute.