April 21st 2018


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Articles from this issue:

COVER STORY The deeper causes of Australia's social malaise

GENDER POLITICS Queensland proposes transgender birth certificates

CANBERRA OBSERVED Malcolm at 30 (polls): the cloud on Turnbull's horizon

NATIONAL AFFAIRS Cardinal Pell firmly denies sex abuse allegations

NATIONAL AFFAIRS Sydney Archdiocese aims to eliminate slavery in supply chain

RURAL DEVELOPMENT Irrigation along Fitzroy River proposed and opposed

LIFE ISSUES Abortion Rethink Summit: the case for care

VERBATIM WA food, drink producers face shortage of carbon dioxide

HOUSING AFFORDABILITY Land costs: economist Henry George's solution

ELECTRICITY Will Turnbull lose three out of three?

ECONOMICS Trade wars: tariffs unlikely to be fired in anger

SEX AND TEENS How about support for the abstaining majority?

VISUAL ARTS Layers of meaning in Botticelli's La Primavera and The Birth of Venus

MUSIC Is it good?: Or, do we just like the sound it makes?

CINEMA The Death of Stalin: Black comedy of a dark time

BOOK REVIEW Cool head on topic that generates heat

BOOK REVIEW Life's not so bad: from the outside

POETRY

LETTERS

OPINION What a republic would really mean for Australia

Books promotion page

KEYNES / HAYEK:
The Clash That Defined Modern Economics

Nicholas Wapshott

$34.95


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(New York: W.W. Norton, 2011)
Paperback: 400 pages
ISBN: 9781921844362
Price: AUD$34.95

 

Book description

Can government fix a broken economy? Two great economists disagreed eighty years ago, and their debate dominates politics to this day.

As the stock-market crash of 1929 plunged the world into turmoil, two men emerged with competing claims about how to restore balance to economies gone awry. 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. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek’s contrary vision.

From their first face-to-face encounter to the heated disputes between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s. This is no mere academic debate — with the world economy teetering, the stakes are very high for all of us.

 

About the author

Nicholas Wapshott is a prominent British journalist and writer. He was a former senior editor at The Times of London and The New York Sun, as well as the founding editor of The Times Magazine. He is a Reuters contributing columnist and a regular broadcaster on MSNBC, PBS, and FOX News. Wapshott has written a number of biographies, including those of Margaret Thatcher and Carol Reed. He lives in New York.

 

Endorsements

‘With balance, understanding and clarity, Nicholas Wapshott, a New York-based English journalist and biographer, re-creates the duel between Keynes and Hayek … [T]his book is beguilingly written, well researched and cleverly argued.’ — John Edwards, Weekend Australian

‘This book gives a fascinating account of the lives of the two men, the evolution of their ideas and why the debate between them is important today.’ — Bruce Rennie, Dominion Post Weekend (Wellington, New Zealand)


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