Weekend Wars: Hayek vs. Keynes, The Debates

Some stories never get old. Some stories never really get told. Since most of us are inundated with quick little snapshots of reality as it once may have occurred, it is nice to get the whole picture. Unfortunately, when it comes to the great debate of the Keynesians against Friedrich Von Hayek it is still very much a machine versus man sort of scenario.

Being that eyes are opening to the cyclopsian perspective of big government economics and centralized planning for the second time in recent economic history, I thought it would be a good idea to revisit this often scaled battle and weigh some of the merits which are rarely put to measure. Nicholas Wapshott's "Keynes Hayek: The Clash That Defined Modern Economics" will soon be dissected and shredded by economists, partisans and special interests alike. Here are parts 1 and two in the four part excerpt series intended to whet beaks just prior to the book's release on October 11th.

I always find it poignant that Hayek was very much a rookie greenhorn economist and philosopher challenging the status quo. Looking back at this time in history it is easy to forget how much time, money and effort was spent on pointing the downward gaze of society onto the young Austrian and his all too logical and righteous perspectives.

Though many of us have learned to appreciate the wisdom, wit, pithiness and candor of Hayek's views and prose it bares reminding that he was and in many ways still is, an outsider.

I greatly look forward to the book and to the flame of this debate being constantly rekindled. It is always amusing to me, how the one thing all Keynesians would like to have us forget...is Keynes vs. Hayek. Enjoy the rest of your weekend folks.

Comments (24)

Oct 9, 2011

I'm really glad these guys came up with this. Genius.

Metal. Music. Life. www.headofmetal.com

Jun 1, 2012

.

Oct 10, 2011
  1. Two sides to the same coin.
  2. Necessary evils.
  3. politics.
  4. lots of arguments
Jun 1, 2012
Oct 10, 2011

Fantastic

Jun 1, 2012

Pretty impressive really. And Hayek looks like a fking accountant.

Jun 1, 2012
Edmundo Braverman:

These guys are awesome.

Maybe these guys should teach Economics.

Haha, yeah, Russ Roberts is pretty awesome IMO. If you like this stuff, you may want to check out his podcast EconTalk.

Jun 1, 2012

There is nothing in these videos about brother love, Braverman...where is the brother love?

Apr 13, 2012

Mises owns. Keynes was a smart guy who come up with a dumb idea. Bankers and politicians use this idea so they can exploit and steal under the carpet.

"Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us." -Mises

Jun 1, 2012

not as good as the first one but does explain in more detail

Jun 1, 2012

great

Do what you want not what you can!

Jun 1, 2012

It's just a shame the guy slants it towards Hayek.

I've always seen Friedman vs Keynes as a much more sound debate anyway.

I'm incriminating myself.

Jun 1, 2012

a shame it's slanted toward hayek...? the point of his propaganda is anti-keynes, clearly. and he does a great job at it.

Jun 1, 2012

old

Jun 1, 2012

There's a sequel that came out last year. My teacher is the security guard in the first video. Bunch of econ nerds rapping...lol

Reality hits you hard, bro...

Jun 1, 2012

Convincing knockout at 6:50. I liked it lol.

Jun 1, 2012
Kassad:

Convincing knockout at 6:50. I liked it lol.

Agreed, and surprisingly well-stated, given the medium

Jun 1, 2012
Comment
Jun 1, 2012