FT.com / Comment / Opinion - A fruitless clash of economic opposites

The “Keynesians” seem not to have studied Keynes and the neoclassicals misread or do not read Hayek. No wonder fallacies abound.

via www.ft.com

Comments

[Greg Ransom]

The way that Robert Lucas misread Hayek is nowere better explained that here:

http://www.cesifo-group.de/link/es09_DeGrauwe.pdf

Paul De Drauwe, Top Down versus Bottom Up Macroeconomics"

Lucas explicitly says his macreconomic modeling was inspired by Hayek's work and Hayek's conception of how to do macro and what the macro problem is.

Lucas, of course, was deeply confused.

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