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Source link: http://archive.mises.org/18045/keynes-vs-hayek-bbc-debate-at-lse-redux-and-podcast/

Keynes vs. Hayek BBC debate at LSE–Redux and Podcast

August 11, 2011 by

Regarding my previous posts Hayek vs Keynes at the LSE and Keynes vs. Hayek BBC debate at the London School of Economics, the Cobden Centre‘s Toby Baxendale has informed me that the Keynes v Hayek debate, originally held at LSE on July 26, 2011, and broadcast on the BBC on August 3, will be repeated on the BBC on Wednesday, August 24, at 9am (UK time, presumably), on the Radio 4 show “Analysis.” (Professor George Selgin and Dr. Jamie Whyte represented the Hayekian side, and Professor Lord Skidelsky and Duncan Weldon the Keynesian.)

I was told that it is very unusual for the BBC to do this, but apparently the Radio 4 bosses liked the Keynes v Hayek debate a great deal. This should add around 1.5 million listeners to the estimated 1 million radio listeners the programme has already had. (It was in the iTunes News and Politics top 5 in the UK.) So, that’s 2.5 million Brits exposed to Austrian ideas about the business cycle. Not bad!

For those who do not want to wait for the rebroadcast, you can find the BBC Radio 4 Analysis show here in iTunes; the direct link to the podcast of the actual debate, released Aug. 3, 2011, is here (and the MP3 file can be downloaded here).

See also Brian Micklethwait’s post about this on Samizdata, A repeat for the BBC Radio 4 Keynes v Hayek debate. Also, the BBC has an article about the debate at Keynes v Hayek: Two economic giants go head to head.


Joe Esty August 11, 2011 at 3:32 pm

That was easy. Heck, I could have dusted off Lord Skidelsky.

El Tonno August 11, 2011 at 6:44 pm

I can’t get to that newfangled iTunes thing. Does anyone have an old-fashioned .ogg or .mp3 anywhere?

punk August 12, 2011 at 5:12 am

Can’t stand this iTunes crap. Luckily the mp3 stream is available in the source:

El Tonno August 12, 2011 at 7:22 am


El Tonno August 12, 2011 at 7:57 am

Woah the Trade Union guy is hilarious.

Peter Surda August 12, 2011 at 11:58 am

Lol @ the Keynesians

Duncan Weldon:

Britain, to a large extent, has voluntarily embarked on the toughest course of government spending cuts for decades.

Based on the data on the internet, UK government spending for 2011 is 683.4 billion pounds, and the budget cuts were 6.2 billion. That’s not even 1%. To use the word “toughest” in this context is highly misleading.

Lord Skidelsky:

So you warn someone not to go on a drinking binge. He does not take your advice, he falls into the gutter, he starts shivering, and you let him stay there.

So while Hayek tells the poor sob to stop drinking, Keynes will scold Hayek, help the drunk to stand up, lean against the wall and then starts robbing bystanders to finance more booze for the drunk.

Those are words, they are abstract words.

Whereas “involuntary unemployment”, “animal spirits”, “liquidity trap” and the likes are the pinnacle of scientific empiricism.

What about actions?

Cut public spending, get rid of central banks and legal tender laws. Oh wait, he meant actions that allow his friends to stay in power. I can see why he might be opposed to that.

Keynesianism is a fairy tale. Combined with the faux science of its proponents and the arrogance of politicians who want to control other people’s lives it’s a disaster.

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