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Dueling Economists
Weekly Standard, by Charlotte Allen

Original Article

Posted By:tisHimself, 7/3/2013 12:30:23 PM

John Maynard Keynes (1883-1946), godfather of the “stimulus” and the “multiplier,” and Friedrich Hayek (1899-1992), who argued that government intervention in the economy breeds prosperity-killing economic distortions, weren’t just polar opposites in economic theory. They were real-life sparring partners. And as Nicholas Wapshott points out in his double biography, their ideas played themselves out in Great Britain, where both Keynes and Hayek lived and taught, and in the United States, where the economic philosophies of both informed the highest levels of policy-making—at different times, of course.

Comments:
Intro corrected by staff

      


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Reply 1 - Posted by: Immanuel Goldstein, 7/3/2013 2:31:13 PM     (No. 9407366)

Fascinating and important article. Economics is called "The dismal science" for a reason, but it is crucial to have some understanding of it. A good introduction to the topic is a series of Youtube videos called Econstories, in which Keynes and Hayek become dueling rappers, rapping over highly technical subjects. The videos are both entertaining, and educational.

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