{"id":14968,"date":"2012-05-08T08:32:50","date_gmt":"2012-05-08T13:32:50","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=14968"},"modified":"2012-05-08T08:32:50","modified_gmt":"2012-05-08T13:32:50","slug":"hayek-and-keynes","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2012\/05\/08\/hayek-and-keynes\/","title":{"rendered":"Hayek and Keynes"},"content":{"rendered":"<p><a href=\"http:\/\/fullcomment.nationalpost.com\/2012\/05\/08\/brian-lee-crowley-were-all-hayekians-now\/\" target=\"_blank\">Brian Lee Crowley<\/a> recounts some of the interactions between F.A. Hayek and John Maynard Keynes in the <em>National Post<\/em>:<\/p>\n<blockquote><p>This year marks the 20th anniversary of the death of Friedrich August Hayek, the Viennese-born Nobel Prize-winning economist and philosopher, who led the intellectual equivalent of the D-Day charge against central planning in the postwar era. His lessons are worth remembering in 2012, especially now that left-wing politicians in France, Greece and elsewhere seem intent on forgetting them.<\/p>\n<p>Hayek\u2019s great adversary was John Maynard Keynes, whose faith in the ability of government economic planners to \u201ccorrect\u201d the operation of markets inspired generations of disciples in government and academe. In the long run, Hayek got the better of the argument with Keynes. Indeed, his ideas contributed to the fall of the Berlin Wall, and continue to influence economic thought to this day.<\/p>\n<p>Hayek and Keynes were punctilious professional colleagues and scholarly rivals. Yet for all the correctness that characterized their relations \u2014 Hayek was, for example, Keynes\u2019s guest when the London School of Economics fled the Nazi bombings to the relative safety of Cambridge \u2014 the Austrian could not shake a profound distrust of Keynes.A brilliant economist, captivating teacher, witty conversationalist and bon vivant, Keynes seemed to almost everyone who knew him a Renaissance man and one of his country\u2019s most powerful minds. Hayek found Keynes glib and superficial, but it was Keynes\u2019 intellectual dilettantism that most appalled him. When Keynes wrote <em>A Treatise on Money<\/em> in 1930, Hayek spent a year carefully analyzing it, and then wrote a devastating review. At their next meeting, Hayek was outraged when Keynes airily said that he now agreed with Hayek, having long since changed his mind. Hayek always regretted that this incident led him to neglect replying to Keynes\u2019 next book. By the time Hayek was alive to the danger, it was too late.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Brian Lee Crowley recounts some of the interactions between F.A. Hayek and John Maynard Keynes in the National Post: This year marks the 20th anniversary of the death of Friedrich August Hayek, the Viennese-born Nobel Prize-winning economist and philosopher, who led the intellectual equivalent of the D-Day charge against central planning in the postwar era. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,25,7,28],"tags":[436,86,563,76],"class_list":["post-14968","post","type-post","status-publish","format-standard","hentry","category-books","category-economics","category-history","category-media","tag-banking","tag-criticism","tag-money","tag-socialism"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-3Tq","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/14968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=14968"}],"version-history":[{"count":1,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/14968\/revisions"}],"predecessor-version":[{"id":14969,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/14968\/revisions\/14969"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=14968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=14968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=14968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}