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Lectures in History

Economists Keynes, Hayek, and Friedman

Lectures in History

C-SPAN

History, Politics, News

4.1696 Ratings

🗓️ 17 July 2022

⏱️ 51 minutes

🧾️ Download transcript

Summary

University of California Santa Barbara economics professor Lanny Ebenstein teaches a class comparing the work of John Maynard Keynes, Friedrich Hayek, and Milton Friedman. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This week, a lecture about economists Keynes, Hayek, and Friedman.

0:07.3

University of California's Santa Barbara economics professor, Lanny Epstein, teaches a class

0:12.0

comparing the work of John Maynard Keynes, Friedrich Hayek, and Milton Friedman.

0:16.5

So, Hayek was, in many respects, no dogmatic libertarian.

0:21.9

And Mises was in terms of, Mises really thought there was almost no positive role for government.

0:27.7

Hayek thought, no, government has to create the framework of institutions for the market.

0:32.5

And as well, he thought there was a significant role for government to play in the society in providing services.

0:43.3

Professor Epstein also draws on examples from capitalistic and socialist economies

0:47.8

and argues that while all three 20th century economists were important, Friedrich Hayek was the most impactful.

0:57.0

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1:58.4

Well, welcome to Econ 107B, and we're going to continue our discussion today

2:03.8

by reviewing the works of Friedrich Hayek, John Maynard Keynes, and Milton Friedman, whom I consider

...

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