Distributor:  Icarus Films
Length:  53 minutes
Date:  2015
Genre:  Expository
Language:  English; French
Color/BW:  Color
Closed captioning available
Interactive transcript available
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Keynes vs Hayek: A Fake Debate?

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The ideological divide between the philosophies of John Maynard Keynes and Friedrich Hayek has dominated economics for nearly a century. Is it time for the pendulum to swing back to Keynes? Or do we need a whole new approach that goes beyond this dualism?(Episode 5 of the Capitalism series)

Keynes vs Hayek: A Fake Debate?

'The idea of freedom is great for those who have large reserves of credit... Contracts between equals are rare things in capitalism.' - Economist Robert Boyer

For nearly a century, most economic debate in capitalist societies has come down to a battle royal between two camps: those following John Maynard Keynes and those whose allegiance lies with Friedrich Hayek. Or, in other words, the ideological divide between those who see the need for economic policy to serve social cohesion and stability, and those for whom price - as set by the free market - is the only guide to rational economic decisions.

KEYNES VS HAYEK: A FAKE DEBATE? Delves deeply into the origins of both schools of thought, and how they were shaped by post-WWI German reparations, the Depression, and the need to rebuild industrial economies after World War II.

Keynesians ruled the day in the post-war economic expansion, but the soaring crime rates and economic stagnation of the 1970s rekindled interest in the idea that the government could not successfully guide the economy. This was the moment at which uber-Hayekian economist Milton Friedman emerged from obscurity, influencing the neo-conservative governments of Ronald Reagan and Margaret Thatcher, and leading to an economic revolution whose hallmarks - privatization and deregulation - continue to be felt today.

Is it time for the pendulum to swing back to Keynes? Or do we need a whole new approach that goes beyond the dualism of Keynes vs Hayek?

Featuring Keynes biographer Robert Skidelsky, Hayek biographer Alan Ebenstein, and economist James Kenneth Galbraith, among others.

"A captivating epic... a major contribution to economic and social reflection." —Le Monde (France)

 

"Brings clarity to confusion, makes complexities accessible, and produces a clear narrative of a system that seems opaque to most people." —Journal du Dimanche (France)

 

"Masterly... is going to revolutionize our vision of the economic world." —La Vie (France)

 

"In first look CAPITALISM seems like the economics class you should have skipped.... but in a second look CAPITALISM is the seminar that you must take in the second semester ... the point of view is very different and surprising, the result is an impressive, visually rich series.” —Israel HaYom (Israel)

 

"Should not be missed! Combines highly educational explanations of concepts, economic history and contemporary life, to create a series of documentaries, each of which it is difficult to stop watching!" —Alternatives Economiques (France)

 

"10 Stars! A truly captivating series that delves into history, philosophy, investigates four corners of the planet, and stimulates the viewer with a re-examination of the basic concepts that define our lives." —Globes (Israel)

 

The series was chosen as one of the ten best programs in France in 2014.

Citation

Main credits

Clarke, George T. (narrator)
Ziv, Ilan (film director)
Ziv, Ilan (film producer)
Ziv, Ilan (screenwriter)
Nahon, Bruno (screenwriter)
Nahon, Bruno (film producer)
Cadieux, Paul (film producer)

Other credits

Director of photography, Phillipe, Bellaiche; editor, David Le Guerrier; original music, Robert-Marcel Lepage.


Distributor credits

By Ilan Ziv

Docuseek2 subjects

Capitalism
Business Ethics
Economics
Sociology
Western Europe
Globalization
Historiography
World History
Labor Studies
Philosophy, Critical Thinking and Ethics
Politics and Political Science
Political Philosophy
Neoliberal Economics

Distributor subjects

Business
Business Ethics
Business and Economics
Economics
Economic Sociology
Europe (West)
Globalization
Historiography
History (World)
Labor Studies
Philosophy
Political Science
Political Theory
Politics
Sociology

Keywords

; "Episode 5"; Icarus Films; capitalism

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