Keynes vs. Hayek

>>1466903

Let me guess... you're a collegefag who just started his economics course for this fall!

yay! good job anon! yay for anon!

>>1466903
>thinking any of these guys actually understands the economy

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>>1466903

>Hayek was right all along
"There is no reason why, in a society which has reached the general level of wealth ours has, the first kind of security should not be guaranteed to all without endangering general freedom; that is: some minimum of food, shelter and clothing, sufficient to preserve health. Nor is there any reason why the state should not help to organize a comprehensive system of social insurance in providing for those common hazards of life against which few can make adequate provision.[33][34]" (source: https://en.wikipedia.org/wiki/The_Road_to_Serfdom)

A longer section is here (http://www.slate.com/blogs/moneybox/2012/05/14/friedrich_hayek_on_the_welfare_state.html), but it's the same general idea, plus Slate is a biased anti-right wing/anti-libertarian/anti-conservative website.

Hayek was more concerned with the rise of central planning, not exactly the welfare state itself.

"inb4 butthurt Keynesian"
I'm not a Keynesian, I'm a monetarist. Milton Friedman is better than both of these economists and much more influential than Hayek.

>>1466903
literally just buy the dip

>>1466930

The guy who made the video has run a podcast for like 10 years (EconTalk) - he's interviewed/talked with almost every famous economist alive you can think of.

the video actually implies keynes was right and shits on hayek

>>1466903
because of political reasons

Also, we've been following Keynes so much, it would be too much trouble to switch course.

Our financial system is held up by a thin string.

>>1466903
keynesian politics bring more votes

>Why do governments still support an ideology that gives governments greater control over the economy?

>>1466903
literally kys

Hayek is a dumb bitch and libertarianism is economics cancer

>I've just discovered the Austrian school guize
>I'm so superior to all of you
>I'm 12

>>1468302
kek