by Guest Author Edmund Phelps Editor’s note: These are Prof. Phelp’s opening remarks for the Keynes vs. Hayek debate produced by Reuters, 8 November 2011 at Columbia University. James K. Galbraith led the Keynes team. His opening remarks have been posted previously. Pictured left is John Maynard Keynes; pictured right is Friedrich August Hayek. Keynes …
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