Why Friedrich Hayek is Making a Comeback
Posted by
follow me
,
at
7:02 AM
John Maynard Keynes have been resurrected by economists (I do not think politicians ever abandoned Keynes). I have posted here before that invoking Keynes leads to examining the ideas of Friedrich Hayek. During the 1930s Keynes and Hayek were the leading economists of the day and involved in a serious debate over macroeconomics with the regard to the causes, consequences, and solutions to business cycles. I am not a macro-economist and I would argue that it is in part because of Hayek. He pointed out that the aggregation that Keynes suggested was too high and the relevant information to examine the economic condition is lost. Thus, a microeconomic approach to macro issues. However, Hayek is known for more than just his business cycle theory. Economist Russ Roberts writes in the WSJ this week why Hayek is making a comeback. Roberts has been mentioned in this blog before for finding new an innovative ways to teach and share economic information. His most recent venture is the rap video Fear the Boom and Bust that compares the views of Keynes and Hayek.
With the recent economic crisis the views of
Subscribe to:
Post Comments (Atom)
Popular entries
-
The state of Minnesota failed to process submitted license renewals for Miller and Coors beer products before the government shutdown. As a ...
-
Spain's economy is now most evidently, and totally and completely officially, in its first recession since 1993. The final confirmation ...
-
The U.S. has imprisoned 2,500 children since 9/11 as "enemy combatants", in violation of the Geneva Convention against classifyi...
-
Once again I am in a musical mood. It's time for a remake of a classic Jerry Lee Lewis song. I said come on over baby A-whole lotta hop...
-
The looming problem of what will happen as and when some of the other Eurozone economies eventually start to recover while the Spanish one l...
-
There are two ways builders can pass home inspections. Build quality homes to code Hire their own inspectors Following is an email fr...
-
In his column today, Paul Krugman reminds us of the press event in 2003 where "officials from multiple agencies used pruning shears an...
-
German exports and investment spending plunged in the first quarter, dragging Europe’s largest economy into its deepest economic slump on re...
-
Unemployment in Spain, which was the source of half the eurozone's new jobs between 2001 and 2006, was up sharply in the second quarter ...
-
As Europe’s leaders struggle to convince markets that their Greek debt problem-resolution-proposals are actually viable, and will really do ...