Jennifer Burns

What is important to note, though, is that they thought of all of those as emergency measures to get through the emergency, not as permanent alterations in the state of what had to be and not permanent alterations between state and market, where the Keynesian assumption is things have changed, times have changed, we're in a new dispensation, and we need a new relationship.

What is important to note, though, is that they thought of all of those as emergency measures to get through the emergency, not as permanent alterations in the state of what had to be and not permanent alterations between state and market, where the Keynesian assumption is things have changed, times have changed, we're in a new dispensation, and we need a new relationship.

So Friedman is very Milton Friedman is very open to doing things differently in a state of emergency. He will have different ideas during World War Two than any other time. And that's why I argue I think he would have been supportive of at least the first rounds of coronavirus relief, because I think he would have put his emergency thinking hat on. So in that way, he was definitely more flexible.

So Friedman is very Milton Friedman is very open to doing things differently in a state of emergency. He will have different ideas during World War Two than any other time. And that's why I argue I think he would have been supportive of at least the first rounds of coronavirus relief, because I think he would have put his emergency thinking hat on. So in that way, he was definitely more flexible.

So Friedman is very Milton Friedman is very open to doing things differently in a state of emergency. He will have different ideas during World War Two than any other time. And that's why I argue I think he would have been supportive of at least the first rounds of coronavirus relief, because I think he would have put his emergency thinking hat on. So in that way, he was definitely more flexible.

Sure. So F.A. Hayek is an Austrian economist who takes up a posting in London. And he's a mentor, a mentee, rather, of Ludwig von Mises. He's writing about business cycles, Austrian capital theory. And the depression hits, and he's one of the few economists who, in the beginning, really is not calling for much intervention.

Sure. So F.A. Hayek is an Austrian economist who takes up a posting in London. And he's a mentor, a mentee, rather, of Ludwig von Mises. He's writing about business cycles, Austrian capital theory. And the depression hits, and he's one of the few economists who, in the beginning, really is not calling for much intervention.

Sure. So F.A. Hayek is an Austrian economist who takes up a posting in London. And he's a mentor, a mentee, rather, of Ludwig von Mises. He's writing about business cycles, Austrian capital theory. And the depression hits, and he's one of the few economists who, in the beginning, really is not calling for much intervention.

Although, as he realizes how politically unpalatable that is, he will develop a more softened version of Austrian economics that has room for a whole range of social services. What's significant about Hayek is that he is also watching what's happening in Austria, what's happening in Germany, and he's really worried the same thing is going to happen again. To the Western democracies.

Although, as he realizes how politically unpalatable that is, he will develop a more softened version of Austrian economics that has room for a whole range of social services. What's significant about Hayek is that he is also watching what's happening in Austria, what's happening in Germany, and he's really worried the same thing is going to happen again. To the Western democracies.

Although, as he realizes how politically unpalatable that is, he will develop a more softened version of Austrian economics that has room for a whole range of social services. What's significant about Hayek is that he is also watching what's happening in Austria, what's happening in Germany, and he's really worried the same thing is going to happen again. To the Western democracies.

And he sees the root cause of this is socialism, the shift towards an expanded role for government, which we've been talking about is happening in the United States. It's also happening in Britain. And so he writes this book that becomes incredibly famous, The Road to Serfdom.

And he sees the root cause of this is socialism, the shift towards an expanded role for government, which we've been talking about is happening in the United States. It's also happening in Britain. And so he writes this book that becomes incredibly famous, The Road to Serfdom.

And he sees the root cause of this is socialism, the shift towards an expanded role for government, which we've been talking about is happening in the United States. It's also happening in Britain. And so he writes this book that becomes incredibly famous, The Road to Serfdom.

Basically saying taking these steps towards a planned economy or an economy that's a modified form of capitalism is going to could. He's very clear that this is not an inevitability. But if the same steps are taken and people follow the same line of thinking, we may end up in a sort of coercive totalitarian state. So this becomes enormously popular in the United States.

Basically saying taking these steps towards a planned economy or an economy that's a modified form of capitalism is going to could. He's very clear that this is not an inevitability. But if the same steps are taken and people follow the same line of thinking, we may end up in a sort of coercive totalitarian state. So this becomes enormously popular in the United States.

Basically saying taking these steps towards a planned economy or an economy that's a modified form of capitalism is going to could. He's very clear that this is not an inevitability. But if the same steps are taken and people follow the same line of thinking, we may end up in a sort of coercive totalitarian state. So this becomes enormously popular in the United States.

First of all, he's in good touch with Friedman's teachers, even before this book comes out. They see them as kindred spirits. Frank Knight is in touch with him. Henry Simons is in touch with him. They all see themselves as liberals. They call themselves old-fashioned, unreconstructed liberals. And so even before he becomes famous, Hayek will be trying to kind of organize thinkers and intellectuals

First of all, he's in good touch with Friedman's teachers, even before this book comes out. They see them as kindred spirits. Frank Knight is in touch with him. Henry Simons is in touch with him. They all see themselves as liberals. They call themselves old-fashioned, unreconstructed liberals. And so even before he becomes famous, Hayek will be trying to kind of organize thinkers and intellectuals

First of all, he's in good touch with Friedman's teachers, even before this book comes out. They see them as kindred spirits. Frank Knight is in touch with him. Henry Simons is in touch with him. They all see themselves as liberals. They call themselves old-fashioned, unreconstructed liberals. And so even before he becomes famous, Hayek will be trying to kind of organize thinkers and intellectuals