I defy anybody—Keynesian, Hayekian, or uncommitted—to read [Wapshott’s] work and not learn something new.”—John Cassidy, The New. The confrontation between John Maynard Keynes, and his Austrian born free market adversary and friend, Friedrich August von Hayek, is one. Keynes – Hayek by Nicholas Wapshott – review Maynard Keynes, on the grounds that this was “the clash that defined modern economics”.
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To see what your friends thought of this book, please sign up. By Robert Cole Since the s, one clash has defined both academic macroeconomics and the economic policies of governments.
Keynes – Hayek by Nicholas Wapshott – review | Books | The Guardian
Testo Accessibilema non accessibilissimo, l’autore lascia troppo spazio, specialmente all’inizio, a citazioni di opere degli autori che, specialmente per Haywek non sono cristalline, anzi decisamente esoteriche. Hayek was more academic and clxsh steeped in the culture of eastern European ideas about economics. We have a war of ideas: This is a dual intellectual biography that discusses the lives and work of Keynes and Hayek and the influence that their work has had and continues to have on economic policy and general policy discussions.
I think there was just enough economic te After reading this book I have a completely new appreciation for the body of work of both Keynes and Hayek. Noi ora stiamo riuscendo nell’impresa di vivere al contempo l’oggi di Hayek e il domani di Keynes. I don’t feel I learned much economics from this.
For the first time Governments re-building after the Second World War, with the prolonged depression and high unemployment of the s still haunting them, knew one thing — they could not go back to Laissez Faire. My condensation of this condensed fare is that there is hayfk to Keyne Very readable introduction to Keynes and Hayek. Hayek thought individual choices were central to the economy. Di parte ma non per questo inutile. Highly recommended for anyone interested in understanding, in depth, the theoretical underpinnings of much of the political, economic and sociological debate that finds us in such gridlock today.
As the stock market crash of plunged the world into turmoil, two men emerged with competing claims on how to restore balance to economies gone awry. His ideas were championed in the west by such men as John Kenneth Galbraith.
Resta il dubbio, a distanza di tanti anni che, invece che di fronte ad economisti, scienza triste per definizione, ci si trovi di fronte a maestri morali, o profeti, incompresi o inascoltati Economists had no explanation, and politicians had nothing else to fall back on in Macro-Economic theory.
I am not an economist myself, but I’ve been able to read Keynes, Galbraith, Friedman, Mar This book is at once biography, cladh the lives of J.
Keynes – Hayek by Nicholas Wapshott – review
He lives in New York City. Wapshott doesn’t really answer the question–because there is no answer, or there is a very simple one he is too tactful to point out but which runs throughout the text–no need to hammer it home.
Except, of course, it’s not free. This may be why he would later become disillusioned with his classic anti-Socialist polemic, The Road to Serfdom, still a big-seller in America to this day.
Keynes Hayek: The Clash that Defined Modern Economics by Nicholas Wapshott
Order by newest oldest recommendations. Keynes would be King and Hayek unread. But his real love, previously married herself, had told him that she was now free to ecconomics. He also describes how political practice blunted the theories and led them to be applied in curious circumstances. Overall, a very good book.
The most damning thing that Keynes said about Hayek’s work was that it was “an extraordinary example of how, starting with a mistake, a remorseless logician can end up in Bedlam”. Wapshott brings out their mutual attraction in personal relations and intellectual interests, while structuring his book around a prolonged duel between the two men, each with supporters ready to act as seconds in a more combative spirit than the principals.
All in all, a great read for those interested in economics and its impact in policy-making. Policymakers need to cherish the microeconomic power of individual agents — workers, executives, entrepreneurs, investors and companies. And who knows what the next big debate will be in the world of economics.
Economicss clear, readable narrative of some of the major ideas of free market champion Hayek and government activist Keynes and the far less intellectual or consistent implementations by the politicians in power from the end of WWI to the recession of The Keynes-Hayek debate is far from over, and learning a little more about them helps me understand more about economic policy-making today.
No wonder the idea thaf can lower taxes without a corresponding public expenditure cut had wide appeal in the late s. For example, the books shows how Milton Friedman was supportive of Hayek’s approach to the role of government, but was closer to Keynes in his actual economics.
So if the men were more nuanced and complicated then history remembers them, why did the Western World lurch back and forth from one one-size-fits-all policy to another?