Asia Times: Keynes versus Hayek
The Institute for New Economic Thinking, established with the support of George Soros, held its inaugural conference this month at the United Kingdom's University of Cambridge. To mark the event, Asia Times Online publishes an essay on Friedrich Hayek and John Maynard Keynes, whose differing theories were a feature of the gathering. - Henry C K Liu
1 comment:
This line really stuck out when I read it this morning:
"The difference between them was that to keep the economy going, Keynes would fight unemployment with inflation and Hayek would fight inflation with unemployment."
I've been thinking about it all day.
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