John Maynard Keynes, one of the most influential economists in modern times, was John Maynard Keynes. Hayek, another one of the most influential economists in modern times, was not John Maynard Keynes. Some say it was his greatest flaw.
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Hayek lived long enough to see planned obsolescence in automobiles in the 1950s and 60s. But he and other economists said nothing about it.
Welcome to Techno-feudalism. We got techno-serfdom because economists are techno-illiterates.
If it has any meaning at all, it’s that Hayek might have been more successful if he had a personality more like Keynes.
Myself, I’m interested in MMT. #economics