Saturday, February 6, 2010

Hayek vs. Keynes Rap Battle

A while ago, when searching the web for information on a debate between the economists John Maynard Keynes and Friedrich von Hayek, I came upon a transcript of a PBS interview concerning some sort of hip-hop video that had been produced featuring a rap battle between Keynes and Hayek. I read the transcript, it wasn't what I was looking for, so I continued searching the web and didn't end up watching said video.

However, it seems that I was meant to watch it, because tonight when I went to mises.org the first link was to an article written by the editor of that site, Jeffrey A. Tucker, describing why the rap-video is worth watching( "The Brilliance of that Hayek vs. Keynes Rap").

Sure enough, it is much better than the original PBS article makes it seem. I mean, it lays out the gist of Keynesian economics as well as the theory of the Austrian business cycle in fair, rap-battle format! Here are some tid-bits about it:

-It compares Keynes' strategy to binge-drinking, with the Fed as bartender.
-It implies that the quick-fix remedies of government spending have taken the place of individual accountability and character (The Hayek rapper finds Keynes' General Theory by his hotel bed in place of the Gideon Bible).
-In the refrain, Keynes declares, "I want to steer markets!" and Hayek cuts in, "I want them set free!", while making emphatic hand motions in true gangster-style.

And now, you must watch it.

1 comment:

  1. This is some hardcore educational film. It has succeeded in making me interested in economics. Until I realize once again that it's boring, anyhow.

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