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A Return to Economist Friedrich Hayek’s Ideas


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GREECE summer 2010 127

Image by akira.yagami

A Return to Economist Friedrich Hayek’s Ideas
Last year the consensus opinion was that we are all Keynesians now. Virtually everyone in the commentariat believed that John Maynard Keynes’s solution for the Great Depression—heavy government spending to resuscitate the economy—was also the answer to today’s global downturn. The first cracks in the consensus appeared with the outbreak of the fiscal crisis in Greece earlier this year. Across …
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GREECE summer 2010 470

Image by akira.yagami

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