“I defy anybody—Keynesian, Hayekian, or uncommitted—to read [Wapshott’s] work and not learn something new.”—John Cassidy, The New Yorker As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore balance to economies gone awry. John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision. From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.
Can government fix a broken economy? Two great economists disagreed 80 years ago, and their debate dominates politics to this day. As the stock-market crash of 1929 plunged the world...
Carter's approval rating in the polls continued to slide.2 Samuelson thought Carter had wished the bad economic news on himself. If he was to stand any chance of being reelected, the president needed to do something dramatic to break ...
In this book, Thomas Hörber offers a clear historical account of the work of these two great figures of modern economic thought.
This book places economic debates in their historical context and outlines how economic ideas have influenced swings in policy.
In this book, Nobel Prize-winning economist Edmund Phelps draws on a lifetime of thinking to make a sweeping new argument about what makes nations prosper--and why the sources of that prosperity are under threat today.
First published in 1995. Routledge is an imprint of Taylor & Francis, an informa company.
My agent Kathy Robbins has been a constant source of encouragement and good advice. I am lucky to have had Bernadette Malone Serton as my editor at Sentinel. She was enormously enthusiastic about the idea of this book from the start and ...
Essay on Economic Theory, An
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Hadden, Sally E. 2001. Slave Patrols: Law and Violence in Virginia and the Carolinas. Cambridge: Harvard University Press. Hammond, Bray. 1970. Sovereignty and an Empty Purse: Banks and Politics in the ...