PBS Commanding Heights Ep1 The Battle of Ideas DivX1 2

[Nintendomanwill]

But why should we be surprised about this when Keynes had all the Fabian types and all the rich governments to support his ideas in the academy, when the Austrian School was annihilated by the German Army taking Mises and Hayek to America and Britain as the conveyors of the sound and sophisticated economic thought that had defeated the Historicism of the 19th century German School of Economics so that freedom might have somebody speaking for it after all. As for nobody predicting WW1, try Menger

[Nintendomanwill]

The world *never* accepted Hayek's ideas, not in a world of the Fed, Greenspan, inflation, increasing serfdom even before the Credit Crunch, and then a response to it that was set on reinflating the money supply and preventing business readjustment to consumer desires/needs/time preference/savings level, by artificial depression of the rates of interests that may be accrued on loans. In reality enabling banks to pay depositors low interest during times of higher marginal utility of money units