1 thought on “Hayek on Keynes”

  1. Posted 10/03/2010 at 17:30 | Permalink

    A comment and a question.

    1. It’s interesting to hear Hayek say he didn’t understand why Keynes’ economics took off. Public choice, surely: Keynes provided an ex post facto justification for politicians’ actions, so of course they leapt on his work.

    2. Hayek says that Keynes was relying on an old fallacy linking aggregate demand to employment, and Leslie Stephens (sp.?). I’ve tried looking but can’t really make any headway on tracking down more details. Any ideas?

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