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As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore 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, Freidrich 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.
Incisive commentary on the financial meltdown and its aftermath, from the author of the bestselling global phenomenon Capital in the Twenty-First Century Thomas Piketty's work has proved that unfettered markets lead to increasing inequality. Without ...
How important is luck in economic success? No question more reliably divides conservatives from liberals. As conservatives correctly observe, people who amass great fortunes are almost always talented and hardworking. But liberals are also correct ...
This book presents a sequence of landmark works in David Harvey's intellectual journey over five decades. It shows how experiencing the riots, despair and injustice of 1970s Baltimore led him to seek an explanation of ...
Este libro nos acerca a las más señaladas disputas entre economistas, y a la relación entre los planteamientos teóricos y los grandes experimentos de política económica de los últimos cien años. White nos ofrece una ...
Robert Skidelsky rememora desde la etapa de formación del joven Keynes hasta sus vitales contribuciones a la reconstrucción del sistema económico internacional tras la Segunda Guerra Mundial, pasando por su relación con el grupo de ...