What’s Wrong with the World

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Hayek and Keynes bust a rhyme

Yo, check it. (HT: Frank Beckwith)

Comments (4)

This is the best thing I've seen in days.

Not quite South Pacific or My Fair Lady but definitely representative of the age, in both music and public policy. Less Hayek, that is.

I doubt Keynes would have approved of a multiplier economic, demand oriented approach over the course of years, on a permanent basis virtually. Little did he know with what glee his theories would be accepted by the cognoscenti in due time.
He who controls the money gets to do the planning, planning being euphemistic here.

All Hayek was, was right. It's never enough.

"Nor is there any reason why the state should not assist the individuals in providing for those common hazards of life against which, because of their uncertainty, few individuals can make adequate provision. Where, as in the case of sickness and accident, neither the desire to avoid such calamities nor the efforts to overcome their consequences are as a rule weakened by the provision of assistance - where, in short, we deal with genuinely insurable risks - the case for the state's helping to organize a comprehensive system of social insurance is very strong... Wherever communal action can mitigate disasters against which the individual can neither attempt to guard himself nor make the provision for the consequences, such communal action should undoubtedly be taken," - Friedrich Hayek, The Road To Serfdom (Chapter 9).

Al, I assume that is meant to be a response of sorts to my post. It would be unduly laborious for me to explain the plain words of my comments, or point out the ramifications of Keynes, some unintended by him, and those of the author of The Constitution of Liberty as well as the work you quote and which your mind has mangled.

Charity requires that I have and do express my pleasure in your elementary ability to read. Without it you would have nothing to post.
Now if you don't mind.

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