Keynes Hayek The Clash That Defined Modern Economics

ISBN-10: 0393077489
ISBN-13: 9780393077483
Edition: 2011
List price: $28.95 Buy it from $7.81
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Description: 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  More...

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Book details

List price: $28.95
Copyright year: 2011
Publisher: W. W. Norton & Company, Incorporated
Publication date: 10/11/2011
Binding: Hardcover
Pages: 352
Size: 6.00" wide x 9.00" long x 1.25" tall
Weight: 1.540

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.

Nicholas Wapshott is the author of Keynes Hayek: The Clash That Defined Modern Economics and Ronald Reagan and Margaret Thatcher: A Political Marriage. A former senior editor at the London Times and the New York Sun, he is now international editor at Newsweek. He lives in New York City.

Preface
The Glamorous Hero: How Keynes Became Hayek's Idol, 1919�27
End of Empire: Hayek Experiences Hyperinflation Firsthand, 1919-24
The Battle Lines Are Drawn: Keynes Denies the "Natural� Order of Economics, 1923-29
Stanley and Livingstone: Keynes and Hayek Meet far the First Time, 1928-30
The Man Who Shot Liberty Valance: Hayek Harshly Reviews Keynes's Treatise, 1931
Pistols at Dawn: Hayek Harshly Reviews Keynes's Treatise, 1931
Return Fire: Keynes and Hayek Lock Horns, 1931
The Italian Job: Keynes Asks Piero Sraffa to Continue the Debate, 1932
Toward The General Theory: The Cost-Free Cure for Unemployment, 1932�33
Hayek Blinks: The General Theory Invites a Response, 1932�36
Keynes Takes America: Roosevelt and the Young New Deal Economists, 1936
Hopelessly Stuck in Chapter 6: Hayek Writes His Own "General Theory," 1936�41
The Road to Nowhere: Hayek Links Keynes's Remedies to Tyranny, 1937�46
The Wilderness Years: Mont-P�lerin and Hayek's Move to Chicago, 1944�69
The Age of Keynes: Three Decades of Unrivalled American Prosperity, 1946-80
Hayek's Counterrevolution: Friedman, Coldwater, Thatcher, and Reagan 1963-88
The Battle Resumed: Freshwater and Saltwater Economists, 1989-2008
And the Winner Is ...: Avoiding the Great Recession, 2008 Onward
Acknowledgments
Notes
Selected Bibliography
Index

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