“Whatever its shortcomings, the American system of free enterprise has given our nation a prosperity very rare in any age; and it is infinitely freer and juster and more orderly than any collectivistic scheme of total regulation.” — Russell Kirk
In Fight of the Century Keynes and Hayek address questions of economic recovery and growth. Do we need more government spending or less? What’s the evidence that government spending promotes prosperity in troubled times? Can war or natural disasters paradoxically be good for an economy in a slump? Should more spending come from the top down or from the bottom up? What are the ultimate sources of prosperity?
In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on the economic crisis. Before the conference begins, and at the insistence of Lord Keynes, they go out for a night on the town and sing about why there’s a “boom and bust” cycle in modern economies and good reason to fear it.