Thursday, May 5, 2011
Hayek Vs. Keynes
So here we have a remarkably intelligent presentation of the economic debate between Friedrich Hayek and John Maynard Keynes as a rap song and a boxing match. Hayek is assisted by Ludwig van Mises, Keynes by Thomas Malthus. I must admit I am not sure how Malthus fits with Keynes. I would think of Malthus more as being with Hayek in terms of being against government spending on welfare programs. I guess the connection to Keynes is that they both saw man in animalistic terms, motivated by the passions, instead of Hayek's rational producer and consumer.