Henry C.K. Liu on J.M. Keynes and F.A. von Hayek
"The difference between them was that to keep the economy going, Keynes would fight unemployment with inflation and Hayek would fight inflation with unemployment" — Keynes versus Hayek. The great Wilhelm Röpke would fight both at the same time.
Labels: Albion, Deutschland, The Dismal Science, The Middle Kingdom, Österreich
4 Comments:
This is the most succinct statement I've read regarding the one of the biggest rivalries in economics, Hayek vs. Keynes.
I agree. I had to mull on all day before I dared post it.
A late comment, but I hope you see this:
Fear the Boom and Bust - a Hayek vs. Keynes Rap Anthem (on YouTube)
About two months ago I found the link in comments on ZeroHedge. The sheer incongruity of serious lyrics and two actors representing the economists on one hand, and babes dancing in hip-hop rhythm on the other hand still makes me laugh.
I posted that one when it came out. Very entertaining.
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