Economics For Dummies. Keynes or Hayek?

Discussion in 'Economy' started by Publius1787, Jan 13, 2011.

?

Which One Is Right?

  1. Hayek

    52.6%
  2. Keynes

    10.5%
  3. Neither

    5.3%
  4. Both

    21.1%
  5. Unsure

    0 vote(s)
    0.0%
  6. Other

    10.5%
  1. Publius1787
    Offline

    Publius1787 Gold Member

    Joined:
    Jan 11, 2011
    Messages:
    6,211
    Thanks Received:
    668
    Trophy Points:
    190
    Ratings:
    +1,402
    Economics For Dummies. Keynes or Hayek?

    [ame]http://www.youtube.com/watch?v=d0nERTFo-Sk[/ame]
     
    • Thank You! Thank You! x 1
  2. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,397
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,415
    Dummies, shameless political opportunists and authoritarian central planners go with Keynes.

    Thinkers go with Hayek, von Mises, Friedman, Skousen, etcetera.
     
    • Thank You! Thank You! x 1
    Last edited: Jan 13, 2011
  3. Publius1787
    Offline

    Publius1787 Gold Member

    Joined:
    Jan 11, 2011
    Messages:
    6,211
    Thanks Received:
    668
    Trophy Points:
    190
    Ratings:
    +1,402
    What a geat excuse to justify liberal spending habits huh?
     
  4. Baruch Menachem
    Offline

    Baruch Menachem '

    Joined:
    Sep 12, 2008
    Messages:
    14,203
    Thanks Received:
    3,235
    Trophy Points:
    185
    Ratings:
    +3,308
    Keynes knew what he was talking about, so did Hayek. Keynes believed in a world where the beurcracy could be trusted. He was wrong about that. Hayek grew up in Habsburg Austria. He knew better than Keyens about how far politicians could be trusted. (About as far as I could toss Shoenbrun)
    [​IMG]
    But when it comes to Math, Keynes was right. When it comes to the darker parts of the Human Soul, Hayek knew better.
     
    • Thank You! Thank You! x 1
  5. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,397
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,415
    Like the vid said, Keynes believed that you can push a thread.

    He was, and still is, wrong.
     
  6. Ernie S.
    Offline

    Ernie S. Diamond Member

    Joined:
    Nov 14, 2010
    Messages:
    34,323
    Thanks Received:
    8,020
    Trophy Points:
    1,340
    Location:
    Sweet Home Alabama
    Ratings:
    +13,724
    Hayek, of course[​IMG]
     
    • Thank You! Thank You! x 1
  7. Publius1787
    Offline

    Publius1787 Gold Member

    Joined:
    Jan 11, 2011
    Messages:
    6,211
    Thanks Received:
    668
    Trophy Points:
    190
    Ratings:
    +1,402
    You mean a trend?
     
  8. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,397
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,415
    No, threads.

    Go ahead...Try to push a thread, or a sting, or a rope....Tell us how that works out.
     
  9. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    58,541
    Thanks Received:
    12,328
    Trophy Points:
    2,180
    Location:
    The Big Bend via Riderville
    Ratings:
    +35,712
    Both were philosophers of political economy. Neither empirically tested their ideas.

    No philosopher is completely right or completely wrong, though Hayek was probably "more right" than Keynes.

    But its a false dichotomy. Both contributed to our understanding of human behavior.
     
    • Thank You! Thank You! x 2
  10. Publius1787
    Offline

    Publius1787 Gold Member

    Joined:
    Jan 11, 2011
    Messages:
    6,211
    Thanks Received:
    668
    Trophy Points:
    190
    Ratings:
    +1,402
    Interesting. Where did you get that analogy from? I like it.
     

Share This Page

Search tags for this page
hayek and keynes for dummies
,
hayek economics for dummies
,
hayek theory of economics for dummies
,
hayeks theory for dummiesw
,
keynes for dummies
,

keynes vs hayek for dummies