Norges Bank deputy pits Keynes against Hayek

Both thinkers have important lessons to offer for crisis management

jon-nicolaisen
Jon Nicolaisen. Photo: Norges Bank

Some European countries have heeded the lessons of John Maynard Keynes without paying sufficient attention to those of Friedrich Hayek, Norges Bank deputy governor Jon Nicolaisen said on April 12.

Both Keynes and Hayek offered ways of "curbing a crisis", said Nicolaisen during a lecture at the Norwegian Academy of Science and Letters.

While Keynes advocated government-financed stimulus, Hayek favoured deeper structural reforms, warning the "misjudged application" of stimulus could lead to credit

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.