Friedrich Hayek podcast

This is from Economics in Ten podcast, season one, episode three. Hayek is framed as Keynes’s great intellectual rival and the episode earns that framing. It covers The Road to Serfdom, the knowledge problem (the argument that no central authority can aggregate enough dispersed information to plan an economy effectively), and Hayek’s influence on Thatcherism and Reaganomics. His ideas are important for evaluation: the case against government intervention, the risk of government failure, and the argument that prices convey information that planners cannot replicate. Accessible for students who have covered supply and demand and are beginning to engage with macroeconomic policy debates. A good episode to recommend alongside or after teaching the limitations of government intervention, or, of course, the explicit reference to Hayek on the Edexcel spec.  Listen here