Discussion in 'Economy' started by Publius1787, Jan 13, 2011.
Economics For Dummies. Keynes or Hayek?
Dummies, shameless political opportunists and authoritarian central planners go with Keynes.
Thinkers go with Hayek, von Mises, Friedman, Skousen, etcetera.
What a geat excuse to justify liberal spending habits huh?
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)
But when it comes to Math, Keynes was right. When it comes to the darker parts of the Human Soul, Hayek knew better.
Like the vid said, Keynes believed that you can push a thread.
He was, and still is, wrong.
Hayek, of course
You mean a trend?
Go ahead...Try to push a thread, or a sting, or a rope....Tell us how that works out.
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.
Interesting. Where did you get that analogy from? I like it.
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