Hayek vs. Keynes

by Elaine Schwartz    •    Jan 26, 2010    •    1092 Views

Good enough to watch, this youtube performance between Hayak and Keynes is similar to a recent Planet Money “boxing match” between the classical perspective and Keynes which I also recommend. Both are helpful when deciding whether you prefer government assistance or waiting for the market to come to the rescue.

The Economic Lesson
In the voting booth, we demonstrate a preference either for legislators who want to do less or those who want to do more. Representative of the Austrian school, Hayek’s ideas emphasize government doing less. By contrast, John Maynard Keynes believed government economic intervention could be beneficial.

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