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And of course what happens then, you get a little bit of inflation, then you need a little more, because it peps up the economy.

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It was taxpayers' money. And that of course not only greatly bolstered her standing within the Tory Party, it bolstered her standing in the country, and it greatly enhanced her reputation internationally. Hayek and others felt that the world was turning toward planning and that somehow we had to develop an intellectual current that would offset that movement. In theory, the Conservative prime minister Ted Heath and his Cabinet believed in markets.

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His economic ideal was a simple India of self-sufficient villages. And so we broke into the concept of the sacredness of private property. Well, his comrades on the left attacked him viciously for selling out the principles of Bolshevism and Marxism.

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I remember, you know, cash flows got very tight as things got tighter and tougher. The final summit conference of the three wartime allies took place in a palace in the Berlin suburb of Potsdam.

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You had qomen in the economy, high level of unemployment. Three million Americans are ex-wage earners, unemployed, and the ranks of the unemployed are to soar to 15 million. We've got no sets that we can operate at all. Years later, when she became the first woman to lead the Conservative Party, she once slammed Hayek's book down on a table and announced, "This is what we believe. Googleabilene tx Swinging countries preferred to plan their economies.

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In effect, she gambled all on the Falklands, and she won decisively. It took a basket full of paper money to go shopping. President, The time has come for a new economic policy for the United States. In Cambridge, Jndian set out to save capitalism from itself by writing a book about what caused the Great Depression and what to do about it. At the very moment, she needed that support.

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Some people feared globalization and questioned the benefits. The distinguishing hallmark of the Austrian school of economic thought is that markets work and governments don't.

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You had people go into this invian, be very competitive, they'd go bankrupt. NARRATOR: A minister in the defeated government, Keith Joseph may have been an unworldly intellectual, but his search for fresh answers would change the way not only Britain but the world thought about economics and society.

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Out, out, out! Keynes: All the statesmen of Versailles could think about was how to squeeze money out of an already bankrupt Germany.

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His ideas were not fashionable. I was in favor of the government doing things, because I was so impatient for good things to be done.

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Improbably enough, the bearded poet is played by Fred Kahn, a professor at Cornell University. They rushed to lndian their hard-earned savings. The Cold War had begun.

I am determined that we should succeed. Friedrich von Hayek thought government interference in the economy was a threat to freedom. Attlee argued that Britain had planned the war, and now planning would win the peace.

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We actually regulated the size of sandwiches. Undian was absolutely unbelievable. Shoes that cost 12 marks in sold for 32 trillion marks in Lenin had abolished what he saw as the chaos of free markets.

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If we do so, your contribution to our ultimate victory will have been immense. There was a new word to describe it: "stagflation. This affects Chicago's intellectual influence in many more areas than economics.

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House of Representatives, Reagan knew Hayek personally; he knew Milton Friedman personally. Reagan shared the same economic philosophy as Margaret Thatcher.