Brian Lee Crowley

Taking Keynes’s name in vain

A C.D. Howe paper recently called for Ottawa to keep borrowing and spending up to .5% of GDP rather than to balance the books as Finance Minister Oliver plans to do in the spring. This advice reminds me of Nobel Laureate (and great Keynes critic) F.A. Hayek’s dictum that his problem was not with Keynes, but the Keynesians. Find out why John Maynard and I would side with Hayek and against further “stimulus” spending in my latest column for the Economy Lab feature in the Globe’s Report on Business.

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Fear the boom and bust: Hayek and Keynes duke it out in rap music

A hilarious video in which two rappers represent F. A. Hayek and John Maynard Keynes! as they argue about the right role for government in dealing with the boom and bust cycle and economic management more generally. Those of you who know me will be aware that I did my Ph.D. on Hayek’s social and political thought and I also did a two part series about Hayek for CBC Radio’s Ideas programme  that included a lot of material about the great rivalry that pitted Hayek against Keynes in the middle of the last century, when they were the two greatest living economists. If you’d like to hear part of those Ideas programs on the Hayek/Keynes bust-up, an audio extract is available on my media page.  Thanks to Brian Ferguson of Guelph U for bringing this video to my attention!

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Brian Lee Crowley