Saturday, October 13, 2012

Masters of Money: Friedrich Hayek


  1. Couldn't they find anybody besides Peter Schiff to speak for Hayek? Not worth the hour. Three clips from Ron Paul and endless propaganda from Krugman, Sachs and Volcker. It's hard to tell if the goal is to show Hayek was right or stupid.

  2. On balance, a good documentary. Unfortunately, it is basically a historical, not an economic, account. If you knew anything at all about Hayek's economics before viewing this, you didn't learn anything new at all. It's a pretty good account of Hayek's historical influence. But there is no mention of Von Mises, Bohm-Bawaerk, Menger, or any of the other influences on Hayek. The idea that Hayek was the representative of a different school of economics that goes beyond just the business cycle theory is completely lacking. It's, at best, a high school level presentation. But what would you really expect from the BBC? It is encouraging that they actually did the documentary at all. That, in itself, is indicative of the a new interest in Hayek that is fostered, of course, largely by the current and impending financial crises.

  3. After reading for a long time now though I couldn't stop laughing my a*** off whenever Paul Krugman opened his trap, although even without ZH I would have found the idea that TBTF and socialising losses would not cause a financial crisis would have been just as funny regardless.

    Sure there is a BBC angle to this mini series but that aside it makes a good starting point before moving on to more in-depth educational resources about currency (the last few minutes with Bernard facing up to 25 years for counterfeiting US currency will be illuminating to many people also).