Keynes vs. Hayek. This amused my little inner econ geek.
Personally, I agree more with Hayek, even if The Road to Serfdom was a bit of a slog to get through.
I’m tempted to go into a long winded post about the perceived vs. real effects of Keynesian policies, but that would require digging up graphs and links to help illustrate the mess. I don’t have the time for that right now.
Anyways, it all boils down to Control (Keynes) and Freedom (Hayek). Unfortunately, Freedom, by it’s very nature, is anathema to those who make their living by drafting laws and regulations. It’s rather like a perverse application of the office attitude. If the lawmakers and regulators aren’t making laws and regulations, then they are perceived as nonproductive. There are so many cases of either ignoring the adage “If it ain’t broke don’t fix it” or that the attempted solution, while full of good intentions, ends up causing more harm than doing nothing.
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