Joseph Schumpeter and Hayek – Keynes’ Challengers

Nasar, Sylvia and Robert Johnson. "Joseph Schumpeter and Hayek - Keynes' Challengers." Institute for New Economic Thinking. February 7, 2012.

In part 4 of this INET interview, Sylvia Nasar discusses how Joseph Schumpeter and Friedrich von Hayek challenged the economics of Keynes in the early-to-mid 20th century. However, their work fell in the face of empirical evidence, while the work of Keynes and Fischer became more accepted. Hayek even sided with Keynes on the Bretton Woods Treaty and fighting unemployment, suggesting that maybe he needs to be protected from his disciples.