Two economic giants go head to head…John Maynard Keynes and Friedrich August Hayek were two prominent economists of the Great Depression era with sharply contrasting views. The arguments they had in the 1930s have been revived in the wake of the latest global financial crisis.
The contemporary relevance of their ideas has even been debated in a rap video….
More than 1,000 people attended a BBC Radio 4 debate at the London School of Economics to hear supporters of the two economists argue their case.
“You can’t cut your way out of a slump; you have to grow your way out. ” Lord Skidelsky, University of Warwick
“The economy is like a drunk throwing up the morning after the night before. ” Prof George Selgin, University of Georgia
Also have a look at this excerpt of Sylvia Nasar’s book, “Grand Pursuit: The Story of Economic Genius” and for a novel “topological” overview of arguments and resources try Rortybomb’s post on 21 Sep 2011.