Keynes Hayek The Clash That Defined Modern Economics

ISBN-10: 0393343634

ISBN-13: 9780393343632

Edition: 2012

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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.
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Book details

List price: $17.95
Copyright year: 2012
Publisher: W. W. Norton & Company, Incorporated
Publication date: 9/10/2012
Binding: Paperback
Pages: 400
Size: 5.50" wide x 8.25" long x 1.00" tall
Weight: 0.946
Language: English

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.

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 for the First Time, 1928-30
The Man Who Shot Liberty Valance
Hayek Arrives from Vienna, 1931
Pistols at Dawn
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, Goldwater, Thatcher, and Reagan, 1963-88
The Battle Resumed
Freshwater and Saltwater Economists, 1989-2008
And the Winner Is…
Avoiding the Great Recession, 2008 Onward
Selected Bibliography
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