IDEAS home Printed from https://ideas.repec.org/h/spr/spshcp/978-3-030-97703-0_4.html
   My bibliography  Save this book chapter

A Distraction: The Heated Hayek–Keynes Exchange About the Treatise

In: Debates in Macroeconomics from the Great Depression to the Long Recession

Author

Listed:
  • Arie Arnon

    (Ben-Gurion University of the Negev)

Abstract

The encounters between Hayek and Keynes in the 1930s produced much heat but less content. Their debate around Keynes’s A Treatise on Money, which Hayek reviewed negatively, was impolite yet the overall relationship between these two protagonists was less appalling than the common description. What is clear in that exchange is that the two rivals knew, and in fact agreed, that they both had an unsatisfactory understanding of the concept of capital. Hayek claimed that the Austrian treatment of the concept of capital had been more advanced than the British, but he also acknowledged that his and other Austrians’ understanding had its weaknesses. At the same time, he focused much of his criticism of Keynes on the fact that Keynes had not studied Austrian capital theory properly and he had not studied Wicksell before 1930. The differences between Keynes and Hayek on policy were explicit in their public positions, for example in a famous debate on the pages of the London Times.

Suggested Citation

  • Arie Arnon, 2022. "A Distraction: The Heated Hayek–Keynes Exchange About the Treatise," Springer Studies in the History of Economic Thought, in: Debates in Macroeconomics from the Great Depression to the Long Recession, chapter 0, pages 63-75, Springer.
    • Handle: RePEc:spr:spshcp:978-3-030-97703-0_4
    DOI: 10.1007/978-3-030-97703-0_4
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:spshcp:978-3-030-97703-0_4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.