Wednesday, June 12, 2013

Keynes versus Hayek - humourous videos by Econstories

These videos from Econstories actually make this classic economic argument interesting - I admit I tend to see more accuracy in what Hayek proposed as a model of economics than Keynes, but in both cases I think they are overly simplistic.   An economy is a very complex structure and people do not act in simplistic ways within it.  I have yet to see any good modelling for detailed economic analysis to explain why things happened.

 Here is Round 2

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