Understanding the history of global economic ideas
I have been teaching about the oil crisis of the early 1970s and its impact on the economies of capital poor countries and how that crisis was at the root of the devastation caused by structural adjustment policies of the 1990s.
While I find fascinating the process of making the links between seemingly disparate global events, its always a challenge cutting through the economic lingo and into the ideas.
Then a former student emailed me this link:
I love the humorous way of explaining the difference between Hayek’s and Keynes’ ideas about the role of the state ithe economy. The battle of ideas between these two continues to impact the lives of millions of poor people to this day.