Revival of Classical Liberalism

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

About this video
In the third part of this collection, Friedrich A. Hayek discusses the turning point in which his ideas began to have a greater echo in the world -- after the failure of Keynesianism and the rise of liberal ideas in the West. The interview includes a look at how Margaret Thatcher handled Great Britain’s economic problems during her administration. Hayek admits he is intrigued by the subject of trade unions and he discusses their proliferation in spite of the damage they have caused. Finally, he compares his vision of a free society with a future under totalitarianism.
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
Reassessment of the idea of freedom around the world
After Keynesianism reached its peak you were awarded the Nobel Prize, did you predict the cost of Keynesian theory?
Imminent collapse of Keynesianism
How does your thinking differ from that of Milton Friedman's regarding Keynesianism?
Impact of macroeconomic Keynesianism
Money supply
Choice in use of currencies
Government monopoly of money
How do you think Margaret Thatcher has managed inflation and unemployment?
Low inflation and wage levels
Do you think that more should be done in terms of trade unions in order to defeat inflation?
Does your liberal individualist society have any role for trade unions, and if so what is it?
Trade union privileges
Ability to undercut wages
Why do trade unions continue to be widely supported if they cause unemployment and other problems?
Is it true that by increasing wages unions promote efficiency?
Changes in trade unions
Trade unions in the United States and Britain
Do you have a method to classify which traditions society should keep and which it should discard?
Social selection and experimentation
Could a more sophisticated society replace a decadent one based on cultural evolution?
The Chinese case study
Would Alexandr Solzhenitsyn be sympathetic to your vision of the great society?
Solzhenitsyn's view of totalitarian societies based on The Road to Serfdom
Are you optimistic that your vision of society will become reality?
Belief in a free society among young people
Final words
Final credits

Courtesy of the
Atlas Research Foundation (UK)

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