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CSE 3.9 Fight of the century- Keynes vs Hayek round two

by Joe Calhoun

According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. Yet we’re all uneasy. Job growth has been disappointing. The recovery seems fragile. Where should we head from here? Is that question even meaningful? Can the government steer the economy or have past attempts helped create the mess we’re still in? In “Fight of the Century”, Keynes and Hayek weigh in on these central questions. Do we need more government spending or less? What’s the evidence that government spending promotes prosperity in troubled times? Can war or natural disasters paradoxically be good for an economy in a slump? Should more spending come from the top down or from the bottom up? What are the ultimate sources of prosperity? Keynes and Hayek never agreed on the answers to these questions and they still don’t.

CSE 3.9 Fight of the century- Keynes vs Hayek round two

Keynes and Hayek weigh in on the central questions about the government's role in economic recovery.

from Fight of the Century: Keynes vs. Hayek Round Two (2011)
Creator: Econ Stories/ John Papola & Russ Roberts
Posted by Joe Calhoun