Keynes and Hayek both held that economic ideas rule the world.

Evidence

As early as 1936 John Maynard Keynes pointed out that “the ideas of economists and political philosophers … are more powerful than is commonly understood. Indeed, the world is ruled by little else.” F. A. Hayek, one of Keynes’s early opponents, added the caveat that “economists have this great influence only in the long run and indirectly.” — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 608

Categorization

• DEFINE: Establishes the foundational Keynes/Hayek contrast on how economic ideas exert influence — direct vs. long-run and indirect — that frames the whole debate about economic imaginaries.
• XREF: connects to: Hayek and Friedman shared faith that ideas could transform political practice — Angus Burgin, The Great Persuasion: Reinventing Free…, 560; Economics functions as both scientific method and vehicle for ruling ideology. — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 607; Hayek held that ideas, not vested interests, ultimately shape political possibility — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin: The Making…, 2116

Broader Connections

• Hayek held that ideas, not vested interests, ultimately shape political possibility #exemplifies (0.95) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 2116
• Economics functions as both scientific method and vehicle for ruling ideology. #expands (0.80) — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 607