Categorized | Austrian Economics

Masters of Money – Keynes, Hayek and Marx

Title: Masters of Money – Keynes, Hayek and Marx
Director: BBC
Year: 2012

BBC economics editor Stephanie Flanders examines how three extraordinary thinkers, Keynes, Hayek and Marx, helped shape the 20th century.

Episode 1 – John Maynard Keynes.

This episode is based on the philosophies of our current mainstream economic though. Let the government intervene and guide the markets towards prosperity. This theory that government can spend money more efficiently than markets is a fallacy among our site and will only worsen the problem. However, banks stem to benefit from keynesian economics and thus their preference in economic theories. This episode examines the life of Keynes.

Episode 2 – Friedrich Hayek

According to conventional (MAINSTREAM) wisdom, today’s global financial crisis happened because markets were not regulated enough. But what if the opposite is true? That it was excessive government meddling in the markets that caused the crash? Proponents of the free-market agree with this theory. This episode explores the roots of Hayek from Vienna to America, she unravels the extraordinary life and influence of the free-market thinker.

Episode Guests : Peter Schiff, Ron Paul.

Episode 3 – Karl Marx

Marx argued that capitalism is inherently unfair and therefore doomed to collapse, so it should be got rid of altogether. Today as the gap between rich and poor continues to cause tension, his ideas are holding up in much of the occupy movement crowds. However, we argue on this site that more government is more the problem. Read our articles and resources for more insight on this argument. In this episode, she explores Marx’s birthplace to a former communist regime detention centre in Berlin and separates his economic analysis from what was carried out in his name.

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