Question: Why do you think that Keynes was declared the winner of the fight(debate) when he clearly lost.? Keynes represents the top-down government intervention side of

Why do you think that Keynes was declared the winner of the fight(debate) when he clearly lost.? Keynes represents the top-down government intervention side of the debate while Hayek represents the bottom-up Austrian view that the economy works best when left alone.

Both monetary and fiscal policy have serious problems and often make the economy worse off rather than better off, but the Federal Reserve and government intervention in the economy are still popular. Why to you think this is the case? Why is Keynes's philosophy more popular than that of Hayek?

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Keynes and Hayeks debate represents a fundamental ideological divide in economics the role of government intervention in the economy While Keynes advocated for active government intervention through m... View full answer

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