Keynes and the Depression

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Friedrich A. Hayek
1985 | Institute of Economic Affairs | Duration:..

About this video
In part two of this collection, Friedrich A. Hayek describes English society in the 1930s. He explains the ideas that surfaced after the world economic crisis and looks at the principal epistemological differences between the ideas of John Maynard Keynes and his own. He also examines the impact that totalitarian movements around the world had on his thinking. Finally, he discusses social justice, explaining what this concept really means and the harmful effects it can have on society. 
The Institute of Economic Affairs
Digitized by New Media - UFM.  Guatemala, March 2011
Executive Producer: Michael Peacock; Studio Director: Cecil Petty; Producer: Eben Wilson

Produced by Video Arts Television in association with the Institute of Economic Affairs
Dumbarton Films Ltd.

Conversion: Mario Estrada; index: Sergio Bustamante; content reviser: Sofía Díaz; publication: Daphne Ortiz, Sofía Díaz
Videos in this collection
Documentary produced by Adam Smith Institute
Collection of interviews produced by The Institute of Economic Affairs in 1997
Dock windowContent
Initial credits
Introduction by John O'Sullivan
Friedrich A. Hayek's scientific understanding of the value of freedom and free markets
London School of Economics professorship
Influence of John Maynard Keynes on economic ideas
What were your impressions of 1930s English society?
Prevalence of socialism
What are your retrospective reflections on the slump in the 1930s, economic policy, and the national government?
Attempts to return to the gold standard
Keynes's rejection of the gold standard
Conflict with Keynes
What do you think about Keynes's General Theory and why did it have such enormous influence?
Puzzled at the success of the Keynesian theory
Would Keynes have approved of the dominance of Keynesianism?
To what extent did Nazism influence The Road to Serfdom?
Is it fair to say that Britain, over the past thirty years, has become more centralist, thus people have not perceived a decrease in freedom?
Consistent movement towards totalitarianism
Risk of dangerous acts and strong moral traditions
Construction of moral tradition through time
Conversation between Winston Churchill and Hayek
Impact of The Road to Serfdomamong intellectual circles
What were your impressions of American society when you wrote The Constitution of Liberty?
Flexibility in moral approaches
Does religious sentiment in America make it possible to morally justify hard work and enterprise?
Relationship between civilization and religion
Symbolic truth and civilization
Justice and society in The Mirage of Social Justice
Role of justice in human action
Morality and remuneration
Conflict between different moral traditions
Real social justice
Moral tradition as a discipline on human instincts
Is the continued energy and success of the American economy due to the Puritan ethic?
Conclusions and summary
Final credits

Courtesy of the
Atlas Research Foundation (UK)

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