Many people have this ungrounded advocacy for economic central planning and government intervention and adhere to their promises of prosperity. Without those things, they say, markets will become a free-for-all where no one will stop the greedy from exploiting the needy. What they overlook though is the fact that giving power to appointed bureaucrats to manipulate the economy leads to cronyism and bailouts, corruption, devaluation of our currency and inevitably creates the opposite of what is so arrogantly intended.
Here's a funny video I found on YouTube explaining the differences between the positions of Keynes and Hayek
I learned more about Keynes and his doctrines as well as Hayek and the Austrian school of economics after watching the PBS documentary Commanding Heights: Battle for World Economy. After that I eventually read and learned more about the two opposing schools of thought.
I think it's very important to learn more about this "battle of ideas" before advocating any of them. There are those that are so opinionated about economic issues who don't even know Keynes or Hayek and base all their assumptions on folklore economics.
But who am I, right? Who am I to go against the followers of Keynes who have their masters or PhD degrees in economics? I have no credentials whatsoever and even failed economics several times in school. I'm just some kid who enjoys reading about these things and watching YouTube videos and documentaries. All I can do, really, is to recommend that you do the same and learn more about it, that's all. Just learn more about it before deciding which is really better instead of just succumbing to what is already accepted. "In times of change, the Patriot is a scarce man; brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot." -Mark Twain
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