Hayek’s The Road to Serfdom and Keynes’s The General Theory of Employment, Interest and Money were written against a background of devastation following the First World War. Thomas Hoerber explains the historical context in which the books were written and shows how lessons can be drawn for current economic and political phenomena, such as the recent financial crisis, globalization and European integration. He illustrates how classical economic theory as well as a qualitative method in economics can enlighten our understanding of the present economic environment. This book places the two great economic thinkers of the twentieth century in their historical context, and asks what we can learn from their work today.