The story behind Hayek v. Keynes, The Fight of the Century
If you haven’t seen the latest EconStories video, The Fight of the Century, watch it.
This week on EconTalk, Russ Roberts interviewed his collaborator on this project, John Papola, and as ever, it’s worth listening to, here for an introduction to the ideas discussed. While there, subscribe to the podcast. It covers a wide range from week to week, and while Russ has an openly Austrian instinct, his guests come from across the spectrum, if with a bias in the regulars.
The one fault I’d find with the video is that I think Keynes’s lines would have been more interesting had they been scripted by a Keynesian, and they would have avoided what small accusations they got, and discuss in the interview, that his lines are not properly representative. But I do think Hayek’s case does not get a proper airing, so this video is a good addition to the debate from the Hayekian perspective, with the message that the only way we get prosperity is by producing things other people care about, and that this can best be determined by the free market. Any fair-minded assessment of the economy in either Ireland or the US over recent decades, cannot describe the system of government schemes and tax breaks, particularly in housing, as the free market.
And if you didn’t know this was a sequel, here’s part one: