Philosophical Perceptions and the Precepts of Political Economy: Friedrich Hayek and John Maynard Keynes

G. Steele

Scottish Journal of Political Economy, 1993, vol. 40, issue 1, 88-103

Abstract: The respective conclusions reached by Friedrich Hayek and John Maynard Keynes concerning the proper relationship between government and the economy are widely documented and discussed, but there is little recognition of a shared philosophy. An opportunity to redress this omission comes with the publication of two important studies--Athol FitzGibbons's Keynes's Vision (1988) and Chadakitis Kukuthas's Hayek and Modern Liberalism (1989)--which, taken together, reveal striking similarities. These are the primary sources for a comparative profile of the philosophy and economics of Hayek and Keynes. The compatibility of their philosophical perceptions contrasts sharply with their respective precepts for a sound political economy. Copyright 1993 by Scottish Economic Society.

Date: 1993
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