And it all comes back to the tyranny of the ignorant majority that is the result of democracy. Until we change the way laws are passed and the restrictions on government, people will continue to starve because the system will never be free under a tyrannical system, and, in turn, the economy will continue to drag instead of progress
I only wish modern conservatives were as honest about austerity measures as Hayek was. Yes, cutting govt spending will increase unemployment, many people will be poorer and descend into depression, alcoholism, crime etc. - shit will hit the fan. The left paints doomsday scenarios about conservatives destroying jobs etc, while the right forgets a vital talking point:
"Yes, you're absolutely correct. This is going to hurt like hell. But that's the only way to save the economy in the long run!"
@ConscientiousMind They only don't do it because it would be very unpopular to do so. If the people who opposed them even slightly understood why it is good in the long run, well, they would not be in the opposition in the first place now would they?
My Keynes Hayek: The Clash That Defined Modern Economics is published in October by W.W.Norton. See website: sites.google.com/site/wapshottkeyneshayek/
Friedrich von Hayek is a truly inspiring person; despite his pessimism at the time, he still continued his efforts to promote liberalism. To me this is an indication of a man of character and fortitude. One of the most inspiring moments I found 17:52 (it could very well be that he said “can't do otherwise” but I want to believe he said "can do" otherwise) and 24:35 (his laugh after saying “a little older”). I envy the people who met von Hayek, because they can say "I have known a giant".
When he says "Britain now needs drastic measures," and that a cure will be "fairly painful" he was absolutely right. What a brilliant man. Thatcher, using Hayek's formulas, was a huge reason Britain broke from the claws of Labor and began to prosper once again.
British dude with nasty teeth: "Let me ask you a serious question":
Hayek: "Let me give you a serious answer".
Perfect interview!
suitabledude 2 weeks ago
Fortunately, the world did survive the next twenty years (1980-2000). Here's hoping for the next twenty.
RoundenBrown 4 weeks ago
How wonderful to know how it went: he was absolutely right, Thatcher followed his thinking, and Britain did return to prosperity!
Conservative1970 1 month ago
For some reason I feel like I need to play some chess now...
toshzpelta 3 months ago 5
And it all comes back to the tyranny of the ignorant majority that is the result of democracy. Until we change the way laws are passed and the restrictions on government, people will continue to starve because the system will never be free under a tyrannical system, and, in turn, the economy will continue to drag instead of progress
ElJefer 4 months ago
my brain just got bigger
dunehelicase 5 months ago 3
my brain just got bigger
dunehelicase 5 months ago
Love the theme tune (Mussorghsky's Pictures at an Exhibition).
jonathanaconway 6 months ago
I only wish modern conservatives were as honest about austerity measures as Hayek was. Yes, cutting govt spending will increase unemployment, many people will be poorer and descend into depression, alcoholism, crime etc. - shit will hit the fan. The left paints doomsday scenarios about conservatives destroying jobs etc, while the right forgets a vital talking point:
"Yes, you're absolutely correct. This is going to hurt like hell. But that's the only way to save the economy in the long run!"
ConscientiousMind 7 months ago 3
@ConscientiousMind They only don't do it because it would be very unpopular to do so. If the people who opposed them even slightly understood why it is good in the long run, well, they would not be in the opposition in the first place now would they?
mikeyboy236 4 months ago
This has been flagged as spam show
My Keynes Hayek: The Clash That Defined Modern Economics is published in October by W.W.Norton. See website: sites.google.com/site/wapshottkeyneshayek/
Nicholas Wapshott
nhwapshott 8 months ago
Friedrich von Hayek is a truly inspiring person; despite his pessimism at the time, he still continued his efforts to promote liberalism. To me this is an indication of a man of character and fortitude. One of the most inspiring moments I found 17:52 (it could very well be that he said “can't do otherwise” but I want to believe he said "can do" otherwise) and 24:35 (his laugh after saying “a little older”). I envy the people who met von Hayek, because they can say "I have known a giant".
Bruce23125145 9 months ago 2
When he says "Britain now needs drastic measures," and that a cure will be "fairly painful" he was absolutely right. What a brilliant man. Thatcher, using Hayek's formulas, was a huge reason Britain broke from the claws of Labor and began to prosper once again.
Rsambo00 9 months ago 2
Great video! Something I cant figure out is why your username is Malthus0? when you have a lot of libertarian videos
pmateusv 10 months ago 12
I really enjoyed this, thank you.
pipewerkz 10 months ago 2
there's a suprising amount of recorded interviews with mr hayek on the internet. aren't we lucky
bobjimjones 10 months ago 33
21:36 Lord Acton was called Lord Action in the subtitles
LUEDisgruntled27 10 months ago 4
I love Hayek's answer at the 22:38 mark — "NO", and the insight that follows.
gunsandbullhorns 10 months ago 3
thanks for uploading .
cherikandler 10 months ago