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Economists Keynes, Hayek, and Friedman

Lectures in History

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I Think That Hik Was Influenced by His Predecessors

The Austrian school of economics was a very important strand of economic theory during the later 18 hundreds and early 19 hundreds. i would say that hik was very much influenced by his austrian economic s im particularly misus. Im mesus is really the one who after world war one, and all of a sudden the soviet union existed in a in eastern europe. There wasn't any socialist country that was attempting to run the means of production on. So mesus asked the question, how's it going to work? How are they going to know what to produce? And hi's argument was that government has an essential role to play, both in social services and in establishing the framework

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