More anti-Keynesian economic sentiment evident in this rap. Hayak is of the Austrian School of Economics according to the Library of Economics and Liberty. Unlike Keynesian economics, Hayak's theory includes the consideration of human actions as a more integral part of the economic principles. In other words instead of indirectly influencing things like employment through monetary policy i.e. interest rates and money printing, Hayak believed economic policy was better focused on individual motives rather than institutional ones.
Subscribe to:
Post Comments (Atom)
:.
0 comments:
Post a Comment