What this shows is that economics is a new and slippery science where even the most basic "laws" are the subject of debate. The debate between these two is so fundamental at the core of competing assumptions that's its akin to the debate over whether the Earth is round or flat, but without the data to definitely answer the question.
Take your own side, but I think Hayek has the better argument. But our policy makers are pretty much all Keynesians.
"The world is a mess and I just need to rule it." --Dr. Horrible.