Keynes Hayek

The Clash That Defined Modern Economics

De: Nicholas Wapshott

Narrado por: Gildart Jackson

As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore the 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, Friedrich 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.

©2011 Nicholas Wapshott (P)2011 Tantor

Reseñas de la Crítica

"Wapshott offers a colorful look at a bygone period and the theories that epitomize the economic divide still shaping Anglo-American politics today." ( Publishers Weekly)

Riveting

This is how economics should be taught: Reflecting on the history of choices made and their impacts really helps us to understand various economic terms and scenarios.

The author created a masterful presentation on capitalism, its value, and its vulnerability.

Gilbert Jackson delivered the message with a perfect accent.

If there were any weaknesses in the presentation of Hayek and Keynes, it would be that there could have been more material covering Hayek’s vision for economics and society. However, it is understandable that this cannot be the case since there are no cases in history of societies implementing anything truly close to what Hayek proposed.

Lastly, character-wise, in spite of the author’s desire to present a balanced account of both men, readers will put two and two together and conclude that Keynes was a great man and Hayek was not.

[Even though the author calls them both “exceptional men”.]

I found this book very enlightening and I wish everyone had the time to enjoy it. It’s fundamental to understanding our present economic and social circumstances.

Authors bias spoils an interesting story.

This is a promising book about a pivotal ideological difference on economics, the role of the state and individual freedom. Unfortunately the promise is hollowed by an author unable to hide his own ideology and preference.

Objectivity by the author would have made for a far better book.

Dense for a non-Economist, but worth it

A great mix of history, tension, and economic thinking, anchored in 2 men. I had to listen to a number of parts twice, but upon finishing I’m astonished by how much my appreciation for economics has grown.

Good expo of 20th century economics and politics

This book does a good job of covering the battle between the theories of Keynes and Hayek, and reveals some insights into our 20th century presidents' economic ideas, successes and failures.

A good insight to the history of fiscal policy

Good insights to fiscal policy that will get you reaching for more books on the matter.

Well-balanced and Challenging.

An even-handed presentation of two fascinating men and their contrasting economic philosophies. The author does a great job to set the historical scenes in which these philosophies came into vogue and faded into the background.

If you're looking to be spoon fed ideology, this is not the book for you. There's plenty of other CRAP on audible which will tell you exactly what you want to hear. But if you truly want to challenge your own ideas and perhaps arrive at a more nuanced understanding, I highly suggest this as a primer on macroeconomic theory in the 20th century.

Profound

Excellent breakdown of 20th century Western economics. Helps you understand who Keynes and Hayek we're as well as who they studied and influenced. Truly remarkable.

Finishes strong

The details of the debate and non-debate between Keynes and Hayek is not always enjoyable or informative. The final few chapters are, on the other hand, enjoyable and informative.

So much more than meets the eye

Two brilliant men whose work was so much more complex than what they are boiled down to in popular politics and culture.

Must listen

Any additional comments?

The way the author chose to present the information I found to be the best part of the book. I felt it was quite fair to both sides and stayed as factual as possible considering hayek vs keynes is like an economic religious war (which the author touched on even). By presenting the data in the way chosen, it helps explain why Keynesianism took hold as well as it did and why it came to be. It also did a good job going a little further in how Keynes and Hayek influenced the economic debate and influence other economists that have carried on the "war". Recommend to all.