What is the difference between Hayek’s beliefs and Keynes beliefs?
These two great thinkers had more in common than it is usually thought, including their idea of what is a civilized society and how assuming their colleagues-economists may be when they ‘pretend to know’. This can be traced in their correspondence. But their views on the monetary system radically differed.
Hayek viewed the market as capable to correct itself, when facing shocks, by taking advantage of competitive forces, and regarded government and central bankers’ policy efforts to restore growth as causes of more instability.
Keynes viewed the economic (macro) system as vulnerable to periodic declines in demand, and regarded traditional (micro) adjustment mechanisms (such as wage and price declines) as ineffective to restore growth and prosperity.
経済学の二大学派、自由主義とケインズ主義。
互いに自説の正しさを主張し合っていますが、これはどちらが正しいというものではなく、経済の状況を見て、その都度、適切な方を選択しなければならないものです。
そのため永遠に決着のつかない論争です。
この二つの学派が登場して80年近い年月が過ぎていますが、いまだに言い争っています。
もう議論では決着がつかないので、Rap Battleで決着を付けようとしているようですが、第三弾まで出ているところを見ると、これでも決着はつかなそうです。。。💦
