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Page last updated at 11:17 GMT, Friday, 23 December 2011

Keynes v Hayek: The debate continues


In an upcoming book called Keynes Hayek: The Clash that Defined Modern Economics, the idea is put forward that economic thought falls into two clear camps.

It maintains that you are either a follower of Keynes or of Hayek and therefore believe in government or individual; stimulus or austerity.

Author of the book, Nicholas Wapshott and Paul Ormerod, economist and one of the founders of Volterra Consulting discuss whether the lessons from economists are really that simple.

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