Keynes vs. Hayek: Which Approach Won Over the Economies of the West? (Podcast)
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Douglas Goldstein.
Keynes and Hayek were two of the most influential economists of modern times. But how did their economic philosophies and views affect the world today? Nicholas Wapshott, who wrote Keynes Hayek: The Clash That Defined Modern Economics and is the former New York bureau chief ofThe Times, editor of theSaturday Times of London, founding editor of The Times Magazine, and political editor of The Observer, tells Doug about the differences in both economic systems and how the economies of the West have been shaped by them. Also enjoy listening to all of your favorite people on Goldstein on Gelt.
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tell a friendAbout the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning firm located in Jerusalem. He specializes in working with clients in New York, Florida, and Israel and is a licensed financial professional both in the U.S. and Israel. Securities are offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, SIFMA. Accounts carried by Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Doug’s newest book The Expatriates’ Guide to Handling Money and Taxes is available at www.expatguidetomoney.com. He hosts a weekly finance show, Goldstein on Gelt, on internet radio. Listen live or download podcasts. Toll-free from U.S. 1-888-327-6179, Jerusalem: (02) 624-2788. Follow on Twitter: @DougGoldstein or contact at doug@profile-financial.com.
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Both Keynes and Hayek accepted empirical evidence. They would probably not be as far apart in practice as people think. For example Keynes questioned whether governments could properly time fiscal policies, and Hayek saw the virtue in forcing people to purchase health insurance.