“Fear the Boom and Bust”: Hayek vs. Keynes Economics Rap
Ever heard the term “Keynesian economics” and wanted to learn more? Here’s a new rap video that explores the competing theories from the Austrian business cycles of Friedrich von Hayek and the interventionist theories of John Maynard Keynes. Yes, I said rap… and it’s actually pretty good! I like the quotes at the end.
We’ve been going back and forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle, and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No … it’s the animal spirits
Full lyrics and song download available at EconStories.tv. Via NPR, ...
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Categories: Money Tags: Boom And Bust, Fear, Good Reason, Keynesian Economics, Low Interest Rates, Quotes