Robert Skidelsky - Interpreting the Great Depression: Hayek versus Keynes

The transcript discusses the economic crisis, attributing it to a failure of ideas rather than individuals. It explores the theories of Hayek and Keynes, highlighting their differing views on economic models and the Great Depression. Hayek's model focuses on credit and investment, while Keynes emphasizes saving and investment imbalances. The debate between their theories is revisited in light of recent economic events, with a focus on the role of money and uncertainty. The discussion concludes with reflections on the relevance of these theories to modern economic challenges.

What was the main conclusion Hayek drew from his analysis of interest rates?

What did Keynes identify as the central element of business fluctuations?

What was the political acceptability of Hayek's remedy for the Great Depression?

In what way did Hayek's views evolve after the Great Depression?