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Keynes Hayek: The Clash That Defined Modern Economics Audiobook
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(3.03) - 340 listener ratings
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Publisher Description
As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore the 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, Friedrich 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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"After reading this book I have a completely new appreciation for the body of work of both Keynes and Hayek. I have read their work before but never realized how interconnected they really were. It is fascinating to me to see the intertwining of personal life and academic work of two of the best minds of the 20th Century. The book mixes economics with history to portray the ideas of Keynes and Hayek and how they influenced each other and modern economics. I think there was just enough economic terminology (you may want to have a little background before reading the book, but then again I am not sure why you would want to read this book if you do not know the academic work of Keynes and Hayek) in the book, and a perfect combination of such terminology with historical and biographical information. All in all, a great read for those interested in economics and its impact in policy-making. The Keynes-Hayek debate is far from over, and learning a little more about them helps me understand more about economic policy-making today."
— Pedro (5 out of 5 stars)
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Wapshott offers a colorful look at a bygone period and the theories that epitomize the economic divide still shaping Anglo-American politics today.
— Publishers Weekly
Keynes Hayek Listener Reviews
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" Highly recommended for anyone interested in understanding, in depth, the theoretical underpinnings of much of the political, economic and sociological debate that finds us in such gridlock today. It's not easy going, rather dense in some sections actually, but Wapshott effectively uses the human dimensions of the story to keep it moving. Well worth the effort expended in getting through it. "
— Richard, 1/30/2014 -
" This is informative and dry, but worth the time invested. If you are not satisfied with the steady diet of misleading crap emanating from the cable news channels, add this book to your list. The time you wasted watching cable new could be better put to use by reading books, written by people that are actually experts on the topic. "
— Dave, 12/11/2013 -
" Kaynes and Hayek: The two major sources of current economic debate: one English, the other Austrian. Bitter rivals. Nasty critics of each other. Both did agree that the reparations required of Germany after the First World War might lead to another war. Keynes survives whenever there is government stimulus to the economy and use of debt to create that stimulus. Hayek is best known today for writing "The Road to Serfdom" (1943) in which he claimed that the abandonment of individualism, classical liberalism, and freedom inevitably leads to socialist or fascist tyranny. "
— Philip, 11/29/2013 -
" I highly recommend this book - even if you're not yet well versed with either of the prevailing schools of thought. "
— Jared, 11/25/2013 -
" Great bio about the economic and ideological history of the battle between two masters of economics and their philosophy. "
— Nick, 7/23/2013 -
" I loved this book. It is very timely, balanced and well researched. "
— Gilbert, 7/12/2013 -
" Interesting reading to appreciate the financial mess we're in. Narrative got a little belabored at some points. "
— Mark, 2/7/2013 -
" Great and important book. Rewards the serious reader. Abstruse and half-digested economic jargon leaves it short of five stars. "
— Lars, 9/18/2012
About Nicholas Wapshott
Nicholas Wapshott is an editor at the New York Sun and the former New York bureau chief for the Times of London. He has also served as editor of the Saturday Times of London and was founding editor of the Times magazine. As political editor of the Observer, Wapshott covered Margaret Thatcher’s final years in office.
About Gildart Jackson
Gildart Jackson’s acting credits span the stage and screen. He is most often recognized for his roles as Gideon on Charmed and Simon Prentiss on General Hospital. He has also starred in numerous television shows, including CSI and Vegas, and he played the lead in the highly acclaimed independent feature film You, directed by his wife, Melora Hardin.