• 00:01    |    
    Initial credits
  • 00:20    |    
  • 00:32    |    
    The Clash of Economic Ideas, Lawrence H. White
    • The Twentieth Century Battle for the "Commanding Heights"
    • Laissez-faire
    • The Bolshevik Revolution and the Socialist Calculation Debate
    • The Roaring Twenties and Pre-Keynesian Business Cycle Theory
    • Other chapters
  • 07:29    |    
    The roaring 1920s
    • Real output in US economy, 1918-1939
    • Industrial production
    • Paul Krugman's views
  • 12:49    |    
    Credit cycle theorists
  • 14:12.799999999999954    |    
    Trade-off between consumption and investment
    • Supply and demand for loanable funds
    • Stages of production
    • Savings and investment
    • Monetary expansion
      • False boom
  • 24:02    |    
    Real growth and price level, Friedrich A. Hayek
    • Natural rate of interest, Knut Wicksell
    • Gold standard constraint and cumulative process
      • Taylor rule
  • 28:35    |    
    Free-banking school
    • Free-banking theory
  • 31:12    |    
    Differing views from John Maynard Keynes and Milton Friedman
  • 32:51    |    
    Deficient demand theorists
  • 34:24.5    |    
    Milton Friedman's views on US money stock
    • Milton Friedman and the Austrian theory of the business cycle
  • 38:54.09999999999991    |    
    Missinterpretation of Friedrich A. Hayek's advice
    • Real bills doctrine versus Hayek
    • Keynesian view
    • Hayek's response
  • 45:37.94999999999982    |    
    Final words
  • 46:05    |    
    Final credits

The Clash of Economic Ideas

New Media  | 23 de junio de 2009  | Vistas: 117

Lawrence H. White describes the economic theories that arose to explain the US economy during the 1920s and the crash of 1929. White's current book project, The Clash of Economic Ideas, explores the history of economic theory and how these ideas continue to shape policy debates today. In this talk, he describes the 1929 financial crash in the United States, emphasizing the contrasting views held by economists Friedrich A. Hayek, John Maynard Keynes, and Milton Friedman. During the presentation, White also examines the economists' views on prices and production, savings and investment, monetary expansion, and the use of the gold standard.





Economist and professor


Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín