Sunday, July 4, 2010

Keynes vs. Hayek

There's been a lot of discussion in economics resurrecting the Keynesian approach vs. Hayekian approach to the downturn.  And I suspect most of you have seen this video.

(If you're having trouble viewing it on the blog, here's a direct link.)

But you may not have much knowledge of the actual debate these two eminent economists carried on in the newspaper. Thanks to Marginal Revolution, we link to an item on the Coordination Problem blog that includes access to a couple newspaper clippings from the 1930s. In it, the Cambridge economists (led by Keynes) are debating economists from the London School of Economics (led by Hayek).  For policy wonks or for people interested in the history of economics, this is good stuff.

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