It’s macro time! Today: Keynes vs. Hayek.
Season 3 of summer school is here asking the biggest economic questions about what makes an entire economy grow or contract? Things like, is there a “right” level of unemployment? Who gains from trade? What rhymes with ‘paradox of thrift’? Also, inflation, we’ll get to inflation.
Episode 1 begins with the rise of macroeconomics as a field, with one of the great economic debates of the 20th century: what causes booms and busts, and what can the government do about it? How free should a free market be?
It’s a debate (over beats and with an actual rap battle) between John Maynard Keynes and F.A Hayek.
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