U.S. Budget and Economy

I recently listened to an interesting Planet Money podcast titled Obama, Ryan And Two Dead Economists . You can listen to the podcast at this link . The two "Dead Economists" are John Maynard Keynes and Friedrich Hayek . The podcast includes an interview with Nicholas Wapshott, author of Keynes Hayek: The Clash That Defined Modern Economics . The difference between the two is briefly summarized in the book description which states the following: John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Friedrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. One interesting topic explored by the podcast is how some of Hayek's ideas are contrary to what Paul Ryan and other Republicans are pushing for. A Planet Money blog about the podcast states the following: In our conversation, Wapshott cit...