Author: Domingos de Gouveia Rodrigues
Publisher:
ISBN:
Category :
Languages : en
Pages : 86
Book Description
Economic thought has suffered, over the past centuries, remarkable progress and, despite the fact that the contemporary world is characterized by the existence of distressing problems in many regions of the planet, such as diseases, misery, hunger, unemployment, incomprehension among peoples leading to wars and the latent state of international tension and violence, understood in its broadest sense, undoubtedly all currents of economic thought, throughout history, from Greek and Roman philosophers, to the scholastics of the Middle Ages, to mercantilists (these not much clearly), by 18th century liberals, by 19th century socialists and more recently, in the 20th century, by John Maynard Keynes (1888-1946) and Milton Friedman (1912-2006), emphasize the need to seek a more just, free and balanced world where man can have access to growing social well-being, materialized in the continuous meeting of his socio-political-economic needs and in the development of his spirit.The reasons for not fully achieving these goals - despite the remarkable scientific and technological progress achieved by Humanity - may lie in the nature of the human being himself, unequally endowed with aptitudes, desires and goals, an insatiable conqueror and increasingly self-centered.However, this moral and philosophical stance of great thinkers gives encouragement to those who envision a better world and, although the recipes are different - throughout history there has been a huge diversity of ideas and systems, many of them totally antagonistic (some liberal, others centralizing) - the ultimate goal is always the good of humanity.In this book, we present some ideas that we consider fundamental to understand the thinking of four great Men - Adam Smith (1723-1790), Karl Marx (1818-1883), John Maynard Keynes (1883-1946) and Milton Friedman (1912-2006). Sometimes in agreement, almost always divergent, their reading shows us how complex, different and grandiose human thought is and how to interpret the world around him.Put in the form of an "interview", let us pretend that the issues raised here are being said by them today. Without a doubt, we will be surprised to see many of their ideas with remarkable relevance, although none of the four is still alive."Let's talk", then, to Adam Smith, Marx, Keynes and Friedman.
Adam Smith, Marx, Keynes and Friedman
Author: Domingos de Gouveia Rodrigues
Publisher:
ISBN:
Category :
Languages : en
Pages : 86
Book Description
Economic thought has suffered, over the past centuries, remarkable progress and, despite the fact that the contemporary world is characterized by the existence of distressing problems in many regions of the planet, such as diseases, misery, hunger, unemployment, incomprehension among peoples leading to wars and the latent state of international tension and violence, understood in its broadest sense, undoubtedly all currents of economic thought, throughout history, from Greek and Roman philosophers, to the scholastics of the Middle Ages, to mercantilists (these not much clearly), by 18th century liberals, by 19th century socialists and more recently, in the 20th century, by John Maynard Keynes (1888-1946) and Milton Friedman (1912-2006), emphasize the need to seek a more just, free and balanced world where man can have access to growing social well-being, materialized in the continuous meeting of his socio-political-economic needs and in the development of his spirit.The reasons for not fully achieving these goals - despite the remarkable scientific and technological progress achieved by Humanity - may lie in the nature of the human being himself, unequally endowed with aptitudes, desires and goals, an insatiable conqueror and increasingly self-centered.However, this moral and philosophical stance of great thinkers gives encouragement to those who envision a better world and, although the recipes are different - throughout history there has been a huge diversity of ideas and systems, many of them totally antagonistic (some liberal, others centralizing) - the ultimate goal is always the good of humanity.In this book, we present some ideas that we consider fundamental to understand the thinking of four great Men - Adam Smith (1723-1790), Karl Marx (1818-1883), John Maynard Keynes (1883-1946) and Milton Friedman (1912-2006). Sometimes in agreement, almost always divergent, their reading shows us how complex, different and grandiose human thought is and how to interpret the world around him.Put in the form of an "interview", let us pretend that the issues raised here are being said by them today. Without a doubt, we will be surprised to see many of their ideas with remarkable relevance, although none of the four is still alive."Let's talk", then, to Adam Smith, Marx, Keynes and Friedman.
Publisher:
ISBN:
Category :
Languages : en
Pages : 86
Book Description
Economic thought has suffered, over the past centuries, remarkable progress and, despite the fact that the contemporary world is characterized by the existence of distressing problems in many regions of the planet, such as diseases, misery, hunger, unemployment, incomprehension among peoples leading to wars and the latent state of international tension and violence, understood in its broadest sense, undoubtedly all currents of economic thought, throughout history, from Greek and Roman philosophers, to the scholastics of the Middle Ages, to mercantilists (these not much clearly), by 18th century liberals, by 19th century socialists and more recently, in the 20th century, by John Maynard Keynes (1888-1946) and Milton Friedman (1912-2006), emphasize the need to seek a more just, free and balanced world where man can have access to growing social well-being, materialized in the continuous meeting of his socio-political-economic needs and in the development of his spirit.The reasons for not fully achieving these goals - despite the remarkable scientific and technological progress achieved by Humanity - may lie in the nature of the human being himself, unequally endowed with aptitudes, desires and goals, an insatiable conqueror and increasingly self-centered.However, this moral and philosophical stance of great thinkers gives encouragement to those who envision a better world and, although the recipes are different - throughout history there has been a huge diversity of ideas and systems, many of them totally antagonistic (some liberal, others centralizing) - the ultimate goal is always the good of humanity.In this book, we present some ideas that we consider fundamental to understand the thinking of four great Men - Adam Smith (1723-1790), Karl Marx (1818-1883), John Maynard Keynes (1883-1946) and Milton Friedman (1912-2006). Sometimes in agreement, almost always divergent, their reading shows us how complex, different and grandiose human thought is and how to interpret the world around him.Put in the form of an "interview", let us pretend that the issues raised here are being said by them today. Without a doubt, we will be surprised to see many of their ideas with remarkable relevance, although none of the four is still alive."Let's talk", then, to Adam Smith, Marx, Keynes and Friedman.
From Adam Smith to Maynard Keynes
Keynes and The General Theory Revisited
Author: Axel Kicillof
Publisher: Routledge
ISBN: 1351601253
Category : Business & Economics
Languages : en
Pages : 390
Book Description
Every time the economy goes through a period of crisis, Keynes’ name is called upon by economists and politicians from diverse backgrounds. However, 70 years after the publication of The General Theory of Employment, Interest and Money, specialists are still far—maybe everyday further—from reaching agreement about the genuine contents of Keynes’ most important work. This controversy has been marked by a paradoxical turn: it is above all the literature about Keynes which, in the last decades, has imposed the terms of the debate, while The General Theory lacks readers. Accused by both its detractors and admirers of being a confusing book that is inconsistent and even plagued with logical errors, the most important contribution of the most influential economist of the 20th century has been condemned to be forgotten or, at best, to live uncomfortably in the voices of those who have spoken on his behalf. This book is the result of rigorous critical research which reconstructs the spectrum of discussion surrounding Keynes’ main work. The book begins by describing the historical background and the state of the pre-Keynesian economic theory, subsequently immersing the reader in a concise but detailed—as well as innovative— interpretation of the original text. The revision of some of the main interpretative currents prepares the field for the book’s ultimate contribution: the identification of the fundamentals that sustain the analytical structure of The General Theory. At the same time, this exploration of the theoretical fundamentals of The General Theory makes this book an original intervention on the genesis and relevance of the divide between micro and macroeconomics—a division that has been fully accepted by contemporary macro theorists.
Publisher: Routledge
ISBN: 1351601253
Category : Business & Economics
Languages : en
Pages : 390
Book Description
Every time the economy goes through a period of crisis, Keynes’ name is called upon by economists and politicians from diverse backgrounds. However, 70 years after the publication of The General Theory of Employment, Interest and Money, specialists are still far—maybe everyday further—from reaching agreement about the genuine contents of Keynes’ most important work. This controversy has been marked by a paradoxical turn: it is above all the literature about Keynes which, in the last decades, has imposed the terms of the debate, while The General Theory lacks readers. Accused by both its detractors and admirers of being a confusing book that is inconsistent and even plagued with logical errors, the most important contribution of the most influential economist of the 20th century has been condemned to be forgotten or, at best, to live uncomfortably in the voices of those who have spoken on his behalf. This book is the result of rigorous critical research which reconstructs the spectrum of discussion surrounding Keynes’ main work. The book begins by describing the historical background and the state of the pre-Keynesian economic theory, subsequently immersing the reader in a concise but detailed—as well as innovative— interpretation of the original text. The revision of some of the main interpretative currents prepares the field for the book’s ultimate contribution: the identification of the fundamentals that sustain the analytical structure of The General Theory. At the same time, this exploration of the theoretical fundamentals of The General Theory makes this book an original intervention on the genesis and relevance of the divide between micro and macroeconomics—a division that has been fully accepted by contemporary macro theorists.
General Theory Of Employment , Interest And Money
Author: John Maynard Keynes
Publisher: Atlantic Publishers & Dist
ISBN: 9788126905911
Category : Business & Economics
Languages : en
Pages : 410
Book Description
John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
Publisher: Atlantic Publishers & Dist
ISBN: 9788126905911
Category : Business & Economics
Languages : en
Pages : 410
Book Description
John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
The Economic Consequences of the Peace
Author: John Maynard Keynes
Publisher: Simon Publications LLC
ISBN: 9781931541138
Category : Business & Economics
Languages : en
Pages : 312
Book Description
John Maynard Keynes, then a rising young economist, participated in the Paris Peace Conference in 1919 as chief representative of the British Treasury and advisor to Prime Minister David Lloyd George. He resigned after desperately trying and failing to reduce the huge demands for reparations being made on Germany. The Economic Consequences of the Peace is Keynes' brilliant and prophetic analysis of the effects that the peace treaty would have both on Germany and, even more fatefully, the world.
Publisher: Simon Publications LLC
ISBN: 9781931541138
Category : Business & Economics
Languages : en
Pages : 312
Book Description
John Maynard Keynes, then a rising young economist, participated in the Paris Peace Conference in 1919 as chief representative of the British Treasury and advisor to Prime Minister David Lloyd George. He resigned after desperately trying and failing to reduce the huge demands for reparations being made on Germany. The Economic Consequences of the Peace is Keynes' brilliant and prophetic analysis of the effects that the peace treaty would have both on Germany and, even more fatefully, the world.
The Big Three in Economics: Adam Smith, Karl Marx, and John Maynard Keynes
Author: Mark Skousen
Publisher: Routledge
ISBN: 1317458206
Category : Business & Economics
Languages : en
Pages : 346
Book Description
History comes alive in this fascinating story of opposing views that continue to play a fundamental role in today's politics and economics. "The Big Three in Economics" traces the turbulent lives and battle of ideas of the three most influential economists in world history: Adam Smith, representing laissez faire; Karl Marx, reflecting the radical socialist model; and John Maynard Keynes, symbolizing big government and the welfare state. Each view has had a significant influence on shaping the modern world, and the book traces the development of each philosophy through the eyes of its creator. In the twenty-first century, Adam Smith's "invisible hand" model has gained the upper hand, and capitalism appears to have won the battle of ideas over socialism and interventionism. But author Mark Skousen shows that, even in the era of globalization and privatization, Keynesian and Marxian ideas continue to play a significant role in economic policy.
Publisher: Routledge
ISBN: 1317458206
Category : Business & Economics
Languages : en
Pages : 346
Book Description
History comes alive in this fascinating story of opposing views that continue to play a fundamental role in today's politics and economics. "The Big Three in Economics" traces the turbulent lives and battle of ideas of the three most influential economists in world history: Adam Smith, representing laissez faire; Karl Marx, reflecting the radical socialist model; and John Maynard Keynes, symbolizing big government and the welfare state. Each view has had a significant influence on shaping the modern world, and the book traces the development of each philosophy through the eyes of its creator. In the twenty-first century, Adam Smith's "invisible hand" model has gained the upper hand, and capitalism appears to have won the battle of ideas over socialism and interventionism. But author Mark Skousen shows that, even in the era of globalization and privatization, Keynesian and Marxian ideas continue to play a significant role in economic policy.
The Price of Peace
Author: Zachary D. Carter
Publisher: Random House Trade Paperbacks
ISBN: 0525509054
Category : Business & Economics
Languages : en
Pages : 666
Book Description
NEW YORK TIMES BESTSELLER • An “outstanding new intellectual biography of John Maynard Keynes [that moves] swiftly along currents of lucidity and wit” (The New York Times), illuminating the world of the influential economist and his transformative ideas “A timely, lucid and compelling portrait of a man whose enduring relevance is always heightened when crisis strikes.”—The Wall Street Journal WINNER: The Arthur Ross Book Award Gold Medal • The Hillman Prize for Book Journalism FINALIST: The National Book Critics Circle Award • The Sabew Best in Business Book Award NAMED ONE OF THE TEN BEST BOOKS OF THE YEAR BY PUBLISHERS WEEKLY AND ONE OF THE BEST BOOKS OF THE YEAR BY Jennifer Szalai, The New York Times • The Economist • Bloomberg • Mother Jones At the dawn of World War I, a young academic named John Maynard Keynes hastily folded his long legs into the sidecar of his brother-in-law’s motorcycle for an odd, frantic journey that would change the course of history. Swept away from his placid home at Cambridge University by the currents of the conflict, Keynes found himself thrust into the halls of European treasuries to arrange emergency loans and packed off to America to negotiate the terms of economic combat. The terror and anxiety unleashed by the war would transform him from a comfortable obscurity into the most influential and controversial intellectual of his day—a man whose ideas still retain the power to shock in our own time. Keynes was not only an economist but the preeminent anti-authoritarian thinker of the twentieth century, one who devoted his life to the belief that art and ideas could conquer war and deprivation. As a moral philosopher, political theorist, and statesman, Keynes led an extraordinary life that took him from intimate turn-of-the-century parties in London’s riotous Bloomsbury art scene to the fevered negotiations in Paris that shaped the Treaty of Versailles, from stock market crashes on two continents to diplomatic breakthroughs in the mountains of New Hampshire to wartime ballet openings at London’s extravagant Covent Garden. Along the way, Keynes reinvented Enlightenment liberalism to meet the harrowing crises of the twentieth century. In the United States, his ideas became the foundation of a burgeoning economics profession, but they also became a flash point in the broader political struggle of the Cold War, as Keynesian acolytes faced off against conservatives in an intellectual battle for the future of the country—and the world. Though many Keynesian ideas survived the struggle, much of the project to which he devoted his life was lost. In this riveting biography, veteran journalist Zachary D. Carter unearths the lost legacy of one of history’s most fascinating minds. The Price of Peace revives a forgotten set of ideas about democracy, money, and the good life with transformative implications for today’s debates over inequality and the power politics that shape the global order. LONGLISTED FOR THE CUNDILL HISTORY PRIZE
Publisher: Random House Trade Paperbacks
ISBN: 0525509054
Category : Business & Economics
Languages : en
Pages : 666
Book Description
NEW YORK TIMES BESTSELLER • An “outstanding new intellectual biography of John Maynard Keynes [that moves] swiftly along currents of lucidity and wit” (The New York Times), illuminating the world of the influential economist and his transformative ideas “A timely, lucid and compelling portrait of a man whose enduring relevance is always heightened when crisis strikes.”—The Wall Street Journal WINNER: The Arthur Ross Book Award Gold Medal • The Hillman Prize for Book Journalism FINALIST: The National Book Critics Circle Award • The Sabew Best in Business Book Award NAMED ONE OF THE TEN BEST BOOKS OF THE YEAR BY PUBLISHERS WEEKLY AND ONE OF THE BEST BOOKS OF THE YEAR BY Jennifer Szalai, The New York Times • The Economist • Bloomberg • Mother Jones At the dawn of World War I, a young academic named John Maynard Keynes hastily folded his long legs into the sidecar of his brother-in-law’s motorcycle for an odd, frantic journey that would change the course of history. Swept away from his placid home at Cambridge University by the currents of the conflict, Keynes found himself thrust into the halls of European treasuries to arrange emergency loans and packed off to America to negotiate the terms of economic combat. The terror and anxiety unleashed by the war would transform him from a comfortable obscurity into the most influential and controversial intellectual of his day—a man whose ideas still retain the power to shock in our own time. Keynes was not only an economist but the preeminent anti-authoritarian thinker of the twentieth century, one who devoted his life to the belief that art and ideas could conquer war and deprivation. As a moral philosopher, political theorist, and statesman, Keynes led an extraordinary life that took him from intimate turn-of-the-century parties in London’s riotous Bloomsbury art scene to the fevered negotiations in Paris that shaped the Treaty of Versailles, from stock market crashes on two continents to diplomatic breakthroughs in the mountains of New Hampshire to wartime ballet openings at London’s extravagant Covent Garden. Along the way, Keynes reinvented Enlightenment liberalism to meet the harrowing crises of the twentieth century. In the United States, his ideas became the foundation of a burgeoning economics profession, but they also became a flash point in the broader political struggle of the Cold War, as Keynesian acolytes faced off against conservatives in an intellectual battle for the future of the country—and the world. Though many Keynesian ideas survived the struggle, much of the project to which he devoted his life was lost. In this riveting biography, veteran journalist Zachary D. Carter unearths the lost legacy of one of history’s most fascinating minds. The Price of Peace revives a forgotten set of ideas about democracy, money, and the good life with transformative implications for today’s debates over inequality and the power politics that shape the global order. LONGLISTED FOR THE CUNDILL HISTORY PRIZE
Free Lunch
Author: David Smith
Publisher: Profile Books
ISBN: 1847651399
Category : Business & Economics
Languages : en
Pages : 301
Book Description
'Free of jargon, obfuscation and interminable subordinate clauses, his prose is just the job' The Times A fully updated and revised edition of the classic guide. The economy has never been so relevant to so many people as it is now. 'There's no such thing as a free lunch' is the one phrase everyone has heard from economics. But why not? What does economics tell us about the price of lunch - and everything else? Set out like a good lunchtime conversation, Free Lunch will escort you through the mysteries of the economy. Your guides will be some of the greatest names in the field, including Smith, Marx and Keynes. This clever and witty introduction to economics is essential reading in these times of economic uncertainty, and far more satisfying than even the most gourmet banquet.
Publisher: Profile Books
ISBN: 1847651399
Category : Business & Economics
Languages : en
Pages : 301
Book Description
'Free of jargon, obfuscation and interminable subordinate clauses, his prose is just the job' The Times A fully updated and revised edition of the classic guide. The economy has never been so relevant to so many people as it is now. 'There's no such thing as a free lunch' is the one phrase everyone has heard from economics. But why not? What does economics tell us about the price of lunch - and everything else? Set out like a good lunchtime conversation, Free Lunch will escort you through the mysteries of the economy. Your guides will be some of the greatest names in the field, including Smith, Marx and Keynes. This clever and witty introduction to economics is essential reading in these times of economic uncertainty, and far more satisfying than even the most gourmet banquet.
The Philosophy of Keynes's Economics
Author: Jochen Runde
Publisher: Psychology Press
ISBN: 9780415312448
Category : Keynesian economics
Languages : en
Pages : 292
Book Description
John Maynard Keynes is undoubtedly the most influential Western economist of the twentieth century. His emphasis on the nature and role of uncertainty in economic thought is a dominant theme in his writings. This book brings together a wide array of experts on Keynes' thought such as Gay Tulip Meeks, Sheila Dow and John Davis who discuss, analyse and criticise such themes as Keynesian probability and uncertainty, the foundations of Keynes' economics and the relationship between Keynes' earlier and later thought. The Philosophy of Keynes' Economics is a readable and comprehensive book that will interest students and academics interested in the man and his thought.
Publisher: Psychology Press
ISBN: 9780415312448
Category : Keynesian economics
Languages : en
Pages : 292
Book Description
John Maynard Keynes is undoubtedly the most influential Western economist of the twentieth century. His emphasis on the nature and role of uncertainty in economic thought is a dominant theme in his writings. This book brings together a wide array of experts on Keynes' thought such as Gay Tulip Meeks, Sheila Dow and John Davis who discuss, analyse and criticise such themes as Keynesian probability and uncertainty, the foundations of Keynes' economics and the relationship between Keynes' earlier and later thought. The Philosophy of Keynes' Economics is a readable and comprehensive book that will interest students and academics interested in the man and his thought.
Keynes Hayek: The Clash that Defined Modern Economics
Author: Nicholas Wapshott
Publisher: W. W. Norton & Company
ISBN: 039308311X
Category : Business & Economics
Languages : en
Pages : 423
Book Description
“I defy anybody—Keynesian, Hayekian, or uncommitted—to read [Wapshott’s] work and not learn something new.”—John Cassidy, The New Yorker 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.
Publisher: W. W. Norton & Company
ISBN: 039308311X
Category : Business & Economics
Languages : en
Pages : 423
Book Description
“I defy anybody—Keynesian, Hayekian, or uncommitted—to read [Wapshott’s] work and not learn something new.”—John Cassidy, The New Yorker 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.