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Re: Another Hayek -v- Keynes debate at LSE

Isaac "Izzy" Marmolejo — Sat, 06 Aug 2011 04:52:58 GMT

yes, that is what he is implying there, unless I am somehow comparing apples and oranges here w/ my example... a note though, I am not saying that LS believes this but it is such an absurd criticism to put towards Hayek... quite simply because we all change our minds about something sooner or later...

Re: Another Hayek -v- Keynes debate at LSE

Student — Sat, 06 Aug 2011 04:47:25 GMT

^ you think Skidelsky is saying no one should ever admit to changing their minds?

Re: Another Hayek -v- Keynes debate at LSE

Isaac "Izzy" Marmolejo — Wed, 03 Aug 2011 22:35:05 GMT

What I found extremely funny is this quote by Skidelsky : "It is what you say in the moment that counts that defines you. And to say 'Sorry, I didn't mean that really, I've changed my mind,' is not a very good advertizement for his thinking."

But I guess Skidelsky forgot that Keynes said that exact same thing when Hayek wrote his critique ("Reflections on the Pure Theory of Money of Mr. J.M.Keynes'') on Keynes' 'Treatise on Money'

Re: Another Hayek -v- Keynes debate at LSE

Isaac "Izzy" Marmolejo — Wed, 03 Aug 2011 22:08:19 GMT

downloadable version

Re: Another Hayek -v- Keynes debate at LSE

Isaac "Izzy" Marmolejo — Wed, 03 Aug 2011 19:54:25 GMT

http://www.bbc.co.uk/radio4/

click on listen on the upper right of the page below the search bar

Re: Another Hayek -v- Keynes debate at LSE

Esuric — Wed, 03 Aug 2011 19:46:51 GMT

Where can I listen to it?

Re: Another Hayek -v- Keynes debate at LSE

z1235 — Wed, 03 Aug 2011 19:33:24 GMT

yes

Re: Another Hayek -v- Keynes debate at LSE

Isaac "Izzy" Marmolejo — Wed, 03 Aug 2011 19:29:08 GMT

so it is going to be on air in like half an hour, right

Re: Another Hayek -v- Keynes debate at LSE

z1235 — Wed, 03 Aug 2011 19:21:31 GMT

bump

Re: Another Hayek -v- Keynes debate at LSE

z1235 — Wed, 03 Aug 2011 13:29:44 GMT

Reminder, the replay of the debate is scheduled to be streamed today at 3pm EST on http://www.bbc.co.uk/radio4/

z1235:

Isaac "Izzy" Marmolejo:

Keynes's biographer, Robert Skidelsky, is going to defend Keynes while Jamie Whyte is going to defend Hayek in a debate at the London School of Econ.

would love to see this debate, or hear it.

"Alternatively, the debate will be transmitted on Wednesday 3rd August, 8pm (repeated on Saturday 6^th August at 10.15pm) on BBC Radio 4."

http://www.bbc.co.uk/radio4/ ..."Listen" button at top-right for streaming radio. I'm assuming those are London times.

EDIT: corrected location of button

Re: Another Hayek -v- Keynes debate at LSE

ADRIAN C — Fri, 29 Jul 2011 22:39:27 GMT

It looks like the Hayek team won but, it won't be televised till the 3rd. of August.

http://www.cityam.com/the-capitalist/city-fights-seats-keynes-vs-hayek

Re: Another Hayek -v- Keynes debate at LSE

vive la insurrection — Wed, 20 Jul 2011 08:10:41 GMT

I think the question is "why Schumpeter?"

Maybe it's just my persona bias / experience. I knew who Schumpeter was before I knew what Austrian economics was, or who Hayek was. In my college econ class he was mentioned as the main opposition. A search on the internet certainly confirms there was a rivalry. I was mostly just pointing out what I see as a general culture shift that has occured within the past 8 years or so. 10 years ago I would have bet a nickle Schumpeter was more popular than Hayek and maybe even would have been contrasted with Keynes more.

Re: Another Hayek -v- Keynes debate at LSE

z1235 — Sat, 16 Jul 2011 02:38:58 GMT

Isaac "Izzy" Marmolejo:

Keynes's biographer, Robert Skidelsky, is going to defend Keynes while Jamie Whyte is going to defend Hayek in a debate at the London School of Econ.

would love to see this debate, or hear it.

"Alternatively, the debate will be transmitted on Wednesday 3rd August, 8pm (repeated on Saturday 6^th August at 10.15pm) on BBC Radio 4."

http://www.bbc.co.uk/radio4/ ..."Listen" button at top-right for streaming radio. I'm assuming those are London times.

EDIT: corrected location of button

Re: Another Hayek -v- Keynes debate at LSE

BlackNumero — Sat, 16 Jul 2011 01:21:43 GMT

Esuric, would you mind distinguishing the Keynesian and neo-Keynesian positions for me? It's my understanding that the neo-Keynesians abandoned certain theoretical points established in The General Theory, but I'm rather ignorant on the subject.

I'm sure there are plenty of other differences, but one of the main divergences is the assumption of sticky prices. The entire Keynesian "under-employment" equilibrium rests on wages rates being rigid downward (there is a price floor). If hoarding increases and "aggregate demand" decreases, then for the Austrian all that needs to be done is prices to adjust by falling freely downward (this is oversimplified and excludes changes in the structure of production relating to time preference). Another way of saying this is to let the market correct itself. Keynes, along with Post Keynesians deny that this is the reason for the "underemployment equilibrium" and that there also rests some fundamental market defects. Neo Keynesians, althought getting them to admit this explicitly might be tough, believe that even though prices adjust in the long run, prices are sticky in the short run and this can lead to potential output gaps. Expansionary fiscal/monetary policy is needed to restore aggregate demand.

Re: Another Hayek -v- Keynes debate at LSE

Rcder — Sat, 16 Jul 2011 01:10:38 GMT

Quite frankly, it doesn't appear to be a serious debate. Skidelsky is not a serious economist, and old-school Keynesianism has been theoretically and empirically invalidated in every possible way. There's no way that Skidelsky is going to defend the new-Keynesian position. This is more of a show than anything else.

Esuric, would you mind distinguishing the Keynesian and neo-Keynesian positions for me? It's my understanding that the neo-Keynesians abandoned certain theoretical points established in The General Theory, but I'm rather ignorant on the subject.