@TikiTorch818@Michael61434544@jonkentcomrade The economy was recovering before he jacked up the taxes (that nobody paid) and the new deal (increased public investment) and growing the gov. regulatory agencies. What it actually did was stalled economic growth if you looked at the graph.
@TikiTorch818@Michael61434544@jonkentcomrade No, Hajek proved that Keynes theory on the business cycle of stimulating the economy during recessions by increasing public spending is wrong it didn't treat the cause of economic crisis(malinvestment).
@TikiTorch818@Michael61434544@jonkentcomrade Hajek was novel prize winner in economics, if his ideas are irrelevant and "outdated" then why are Keynes ideas are still relevant and taken seriously?
@TikiTorch818@childishludino@jonkentcomrade Technically a currency swap is not a sovereign debt or bail out. The central bank exchanges currencies to provide funds to rollover Argentinas debt to a higher or lower interest rates(was not publicly known).