Austria-Hungary. Kayne vs Hayek Essay.5380040 Macroeconomics. It is as if we have gone through the looking glass.
Keynes and hayek essay
Keynes, vS, hayek, essay - 1594 Words
Hayek and Keynes essay on how to write are outstanding economists that espoused two separate philosophies on how the market should be stabilized while working towards equilibrium. He felt that it only destroyed other economies leaving them in despair. Hayek disagreed with war. He felt his success was noted even in 2009. Keynes believed that it was a waste to save money and it only lead to destruction and prevent economic growth. This is not the sort of advice that governments welcome. He argued that central government planning leads to serfdom or servitude which destroys personal freedom. That is, go back to growing their own food - much as the Russians did when their economy collapsed in the early 1990s. You cant take the money with you. However, two prominent economists emerged with competing claims and sharply contrasting approaches on how a capitalist economy works and how to revive it when depressed. His revolutionary proposition was that following a big shock - usually a collapse in investment - there were no automatic recovery forces in a market economy.
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