Keynes versus Hayek

There are differences between Keynes and Hayek on the role of savings in the economy.
Keynes believed that it was a waste to save money, it only lead to destruction and prevent economic growth. He didn’t agree with private investment. He felt by keeping money in your pocket is senseless because soon we will all be dead. You can’t take the money with you. He also felt that the government should increase spending during times of recessions.
In contrast, Hayek believed that you must save money so that you could later invest the money wisely. He felt time would multiply your interest. He felt that time did not matter. He believed the same principles of the economy that applied in the 1920 still applied in 2005. The solution was not to print more money, but to invest the money the money saved.
These views are expressed in the lyrics below:
{Keynes} So forget about saving, get it straight out of your head.
Like I said, in the long run-we’re all dead.
Savings is destruction, that’s the paradox of thrift.
Don’t keep money in your pocket, or that growth will never lift.
[Hayek] Real savings come first if you want to invest.
The market coordinates time with interest.
Your focus on spending is pushing on thread.
In the long run, my friend, it your theory that dead.
Whether it’s the late twenties or two thousand and five Booming bad investments, seems like they’d thrive. You must save to invest, don’t use the printing press
Or a bust will surely follow, an economy depressed.

In the verse below, the government stimulus efforts in response to the recent financial crisis worked and also argue points about government policy during the Great Depression and the subsequent recovery. Keynes and Hayek had major disagreements. Keynes feels that his efforts to stimulate the economy worked. He felt his success was noted even in 2009. He felt