Keynes vs Hayek: Can you spend your way out of a recession?


John Maynard Keynes and Friedrich Hayek, two of the great economic thinkers of the 20th century, had sharply contrasting views.

In a Radio 4 debate recorded at The London School of Economics, Professor George Selgin, an advocate of Hayek, criticised the Keynsian theory that spending alone can get governments out of a financial slump - an approach Lord Robert Skidilsky, an advocate of Keynes, insists is only a last resort.

The Keynes vs. Hayek debate will broadcast on BBC Radio 4 on Wednesday, 3 August at 20:00 BST and will repeated on Saturday, 6 August at 22:15 BST. You can listen again via the BBC iPlayer or by downloading the Analysis podcast. Share your thoughts on the Keynes vs. Hayek debate on Twitter using #lsehvk

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