
The economic clash that still shapes our world. Keynes vs. Hayek - a battle of ideas during the Great Depression that continues to divide policymakers. As John Cassidy notes, even experts can't read Wapshott's riveting account without learning something new.
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Imagine a night during World War II: two men stand on the roof of King's College chapel, watching for German bombers. One is John Maynard Keynes, advisor to the British Treasury; the other is Friedrich Hayek, an Austrian economist. These intellectual titans-fierce opponents who nonetheless shared common concerns-would define the most consequential economic debate of the 20th century. Their clash wasn't merely academic; it determined how nations responded to the Great Depression, influenced postwar prosperity, and continues to frame our political divisions today. When the 2008 financial crisis hit, their competing theories suddenly became urgent again. The battle between government intervention and free markets remains as relevant now as when these brilliant men first crossed swords nearly a century ago.
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