30 Jul 2010

Hayek on Firing Line

Economics, Financial Economics 1 Comment

Bob Roddis came to the Night of Clarity earlier this month and hand-delivered some audio clips of Hayek. In this one he talks about Keynes with William F. Buckley. (It’s 4:44 long.)

I think this clip made the rounds on the blogosphere before, but apparently the links are all dead. So Bob wanted me to re-post it.

One Response to “Hayek on Firing Line”

  1. Bob Roddis says:

    One can download an entire written transcript of the show here:


    Or here:


    The transcript of this clip is on page 3. Hayek also has some interesting things to say on page 4. The rest of the show is really not about Austrian Economics. Note that there are many mistakes in the transcript.

    You can download the clip by right-clicking on the words “this one” above and selecting “save target as”.

    I had made this recording with my trusty student cassette recorder back in 1977. I found the cassette in my attic in 2008. The importance of the clip is that Hayek is saying that “The General Theory” was an ad hoc theory designed to induce a policy in Great Britain of inflation in order to trick workers into accepting lower wages because forcing lower wages on them was otherwise politically impossible.