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

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

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

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

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

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

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

Professor Epstein also draws on examples from capitalistic and socialist economies

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

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

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

...