 A Distraction: The Heated Hayek–Keynes Exchange About the TreatiseArie Arnon ()
Chapter Chapter 4 in Debates in Macroeconomics from the Great Depression to the Long Recession, 2022, pp 63-75 from Springer Abstract: Abstract The encounters between Hayek and Keynes in the 1930s produced much heat but less content. Their debate around Keynes’s A Treatise on Money, which Hayek reviewed negatively, was impolite yet the overall relationship between these two protagonists was less appalling than the common description. What is clear in that exchange is that the two rivals knew, and in fact agreed, that they both had an unsatisfactory understanding of the concept of capital. Hayek claimed that the Austrian treatment of the concept of capital had been more advanced than the British, but he also acknowledged that his and other Austrians’ understanding had its weaknesses. At the same time, he focused much of his criticism of Keynes on the fact that Keynes had not studied Austrian capital theory properly and he had not studied Wicksell before 1930. The differences between Keynes and Hayek on policy were explicit in their public positions, for example in a famous debate on the pages of the London Times. Date: 2022 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:spshcp:978-3-030-97703-0_4 Ordering information: This item can be ordered from DOI: 10.1007/978-3-030-97703-0_4 Access Statistics for this chapter More chapters in Springer Studies in the History of Economic Thought from Springer |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.