Exam 32: Great Debates in Economics: Keynes Versus Hayek

In the main chorus of the Keynes-Hayek rap lyrics,Keynes states "I want to steer markets" and Hayek replies,"I want them set free." These statements are referring to

According to the Keynesian view,capitalism

John Maynard Keynes and Friedrich Hayek

Adam Smith stated,"The man of system is apt to be very wise in his own conceit.He seems to imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chess-board." Which is true of this statement?

According to Friedrich Hayek and his followers,the booms and busts of the business cycle are primarily the result of

In his book The Road to Serfdom,Friedrich Hayek argued that the growth of government

What did Keynes and Hayek believe about government central planning?

The General Theory of John Maynard Keynes exerted a major impact on macroeconomics during the 20ᵗʰ century primarily because