Description

Thomas Hoerber looks at two men's views on the economy. They are John Maynard Keynes and Friedrich Hayek. Do their views still help us grasp today's economy? Hoerber asks this and shows how both shaped politics in the 20th century.

Keynes sought jobs for all who wanted to work. He helped shape the West's welfare state after the war. Hayek called for freedom in the economy. He did so amid harsh rule that sought total control. States planned their economies and geared them to war. His ideas later helped shape change in Eastern Europe's economies. This came after the end of communist rule.

This book deals with facts about economics and politics. Readers need no special training in these fields. Hoerber asks where a state's choices lead its economy. He looks at tax, money and the use of funds to seek gains. He also looks at rises in pay and pensions.

He bases his study on two main works. Hayek's is Drumul către servitute (1944). Keynes's is Teoria generală a ocupării forței de muncă, a dobânzii și a banilor (1936).

Alexandru Gabor translated this edition from English.