Great piece of work which encourages debate of the “big picture” issues. What I’d like to see is more discussion of what in my opinion is the biggest problem with a Keynesian approach — not how it reacts to an economy on the downside, where I do believe it has some value, but the failure of politicians to employ it on the upside. Imagine if government would actually raise taxes, reduce spending and aggressively pay off debt when the economy is strong. Then there would be plenty of leeway to do something when the economy is weak. The government’s role would be much more straight forward if it concentrated as acting as a stabilizer to the business cycle, rather than a social engineering project. Only the market has sufficient information and flexibility to provide that.

plain briliant. period.

Highly propagandized. Obviously throughout the  fight scenes are telling us that Hayek has won the debate of the century. At the end the formerly unknown Hayek is mobbed by “the people” while Keynes is surrounded by press and wealthy bankers; nice not so subliminal messaging there. There are times when we need to listen to Hayek and times we should listen to Keynes; it is too much faith in this either or message that is a real cause of the problem. Hayek’s polices have been at work for much longer than this video credits. They tend to favour the wealthy and powerful just as Keynes policies can in a corrupt system.

I watched your videos in social class, yay learning!!!!