Hayek?s overcoat

Lord Robert Skidelsky is unlikely to have understood the anecdote in his opening remarks in the LSE Hayek/Keynes debate. He related that, after addressing an audience of Cambridge economists in 1931, Hayek had been asked,

‘Is it your view that if I went out tomorrow and bought a new overcoat, that would increase unemployment?’

Read the full blog post here

Source: http://www.iea.org.uk/blog/hayek%E2%80%99s-overcoat

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