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Keynes Hayek: The Clash that Defined Modern…
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Keynes Hayek: The Clash that Defined Modern Economics

by Nicholas Wapshott

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Excellent chronicle of the most important intellectual clash of the 20th and 21st century, and one that will undoubtedly rage for some time. It is a battle over the size and role of government in our lives and has powerful implications for individual liberty. As we have seen, it often transcends party lines. Nixon, George W. Bush were more Keynesian while Reagan tilted toward Hayek. Interestingly, Trump may be more Keynesian (advocating a huge infrastructure package) but is considering a Hayekian (Kudlow) as his Chairman of Economic Advisors. Well written and important book and not too technical for those that lack economic training. ( )
  Mark.Kosminskas | Dec 27, 2016 |
This is an excellent account of the biography of Kenyes and Hayek, and the history of their ideas in the 20th and 21st centuries. It explains a lot about the history of the United States throughout my lifetime, and the state of politics today. Unfortunately, as usual with an audiobook, I did not pay complete attention throughout, and now I'm thinking I should go back and read it. Oh well, at least it will be well worth a second time through. ( )
1 vote baobab | Nov 10, 2011 |
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Amazon.com Product Description (ISBN 0393077489, Hardcover)

Can government fix a broken economy? Two great economists disagreed eighty years ago, and their debate dominates politics to this day.

As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore balance to economies gone awry. John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision.

From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.

(retrieved from Amazon Thu, 12 Mar 2015 18:13:18 -0400)

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As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore balance to economies gone awry. John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Friedrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision. From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.--Publisher description.… (more)

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W.W. Norton

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