Why leave it? Understanding the nature of the government is crucial to understand the reality. That is how we do science. Understand the nature of the phenomenon under consideration.

Where did Hayek say in 1932 that government should boost spending? Give me a precise quotation. I advise you read his Prices and Production book where he so elaborately talks about the business cycle. In that book Hayek so nicely demonstrated, after his mentor in that field of inquiry Mises, that why government spending itself created the great depression. The depression that was created by the government spending cannot be reversed by that same spending!

Young Hayek was radical and brilliant. He lost his way in middle ages. After getting his Nobel prize, which actually belonged to Mises, he again became radical and good but still compromising. And that is why Hayek should not be someone who liberty lovers must look forward too. He isn’t consistent.

The question I have is this “in the time of pandemic or global recession, should government boost spending or not because in 1932-1935 both Hayek and Keynes agreed that government should boost the spending at the time of great depression.

I am sorry but it is not called business. Business is when you satisfy the most urgent needs of your customers by providing them the best quality goods at the lowest possible prices by honestly competing openly in the market. There is a thing called “morality” and “trust” also without which there can’t be any business and society itself. We are seeing the end results of the philosophies like the one you are espousing above.

It is not your fault but when those hungry unemployed people will knock on your door and ask for your head then please do not complain! Actions have consequences. Immoral actions will result in evil consequences. So be prepared for that. Thank you.

No matter from which angel you see, the future right now is looking very grim. I almost zero chance of any recovery till 2024 and beyond unless and until some major political upheavals arrive which heavily weakens the central power. Hoping anything better will be deluding oneself and giving false hope.

Immediate cash transfer in the hands of people will be a disaster. It will only lead to higher prices and nothing much. As I have said many times in my past articles, consumption never a problem for any economy; production is. Our problem is halted production which has resulted in lower income and unemployment. We need to boost production which requires government to let go its controls and regulations. Exactly reverse is happening in India e.g., power is heavily centralized day by day. Central planning always means disaster.