Monday, October 8, 2012

John Maynard Keynes

 
(Hayek + Karl Marx)/2 = Keynes.

Karl Marx thought the government should intervene and regulate the market, allocate
the resource to the country, he also argued that the economy was the science which can be
predicted.

Hayek argued that the government should not intervene the market, or it would result in
the totalitarian or collectivism. Because you always need a small clique to allocate the
resource of the country. The problem is that information is elusive to perceive correctly, the
economy is too complicated to manage. He argued that the economy can not be predicted.
 
In my opinion, Keynes combined the ideology of Karl Mark and Hayek, the government should
intervene the market, but not all of the country.

You never knew what they were going to do next. In fact, Keynes noticed that the time when economies look most predictable were usually the time when the things were about to go wrong disastrously. Keynes, his idea that the country shouldn't beggar their neighbors that economies were  deeply unpredictable.

Hoover Dam.

The government funded, private company constructed the Hoover Dam.

No comments:

Post a Comment