The economist Paul Krugman is a Keynesian. He says government stimulus is the way to get the economy moving again, even if it means going deeper in debt. The prevailing policy in England, and now in America, favors Friedrich Hayek, who would recommend cutting back and riding out the downturn until the economy corrects itself. BBC Radio 4 sponsored an interesting debate on the merits and weaknesses of Keynes vs. Hayek
[audio:https://s3.amazonaws.com/dogratcom/Audio/2011/Aug/bbc4.mp3|titles=BBC Radio 4 debate: Keynes vs. Hayek]
If so, it’s not because he’s a Keynesian. I’m amused that Alan Greenspan’s muted, measured demeanor hid a reckless adherence to the radical ideas of Ayn Rand.
Paul Krugman appears to be crazy.