tag:blogger.com,1999:blog-4616542941395272083.post859046806562223990..comments2023-05-23T04:21:47.246-07:00Comments on morning coffee: Fight of the Century: Keynes vs. Hayek Round TwoJim G.http://www.blogger.com/profile/00142119429985458217noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4616542941395272083.post-82499315881934817332011-05-01T23:25:25.748-07:002011-05-01T23:25:25.748-07:00If Hayek had been in charge in 2008 or 2009, we wo...<b>If Hayek had been in charge in 2008 or 2009, we would be in a Great Depression right now.</b><br /><br />That's right. When it mattered most, George W Bush was a Keynesian. He didn't want to oversee a collapse "worse than the Great Depression", as he said. So what did he do? He implemented Keynesian policies. Thank god Paulson and Bernanke were there to make him do it.<br /><br />It's a shame he wasn't a Keynesian earlier. Perhaps, he'd have had a net surplus over eight years rather than doubling the national debt. Keynes would argue for surpluses during that time of growth. Instead, we suffered Cheneysian economics - "Deficits don't matter."Baxterhttps://www.blogger.com/profile/16542863255802738652noreply@blogger.comtag:blogger.com,1999:blog-4616542941395272083.post-26460658364364532312011-05-01T22:52:41.406-07:002011-05-01T22:52:41.406-07:00I have been taking Hayek and I did not even know i...I have been taking Hayek and I did not even know it! <br /><br />And just like in the video, Baxter with a grain of truth, but mostly wrong, especially when subject to critical analysis, is somehow...right?<br /><br />The parts about how it is foolhardy to try and "dial" an economy are the best.Jim G.https://www.blogger.com/profile/00142119429985458217noreply@blogger.com