The folks at EconStories released their latest video today, depicting a “Round Two” of their earlier Keynes vs. Hayek hip-hop battle, as the two economists battle over the amount of government spending that should occur to bring America out of tough economic times, what defines prosperity, and whether spending should be top-down or bottom-up.
You should see some other familiar faces portrayed, and the security guard at the beginning is played by Duke University economist, Michael Munger.
Written by Daniel J. Mitchell, a senior fellow at the Cato Institute. Posted with permission from Cato @ Liberty.
I’m understandably partial to my video debunking Keynesian economics, and I think this Econ 101 video from the Center for Freedom and Prosperity does a great job of showing why consumer spending is a consequence of growth, not the driver.
But for entertainment value, this very funny video from EconStories.tv puts them to shame while also making important points about what causes economic growth.
On Monday evening, saw a battle of two schools of economic thought — Keynesianism and the Austrian school — in a brief battle between Paul Krugman and Rep. Ron Paul (R-TX).
While it wasn’t the educational videos put out by Econstories that have actors playing the parts of John Maynard Keynes and F.A. Hayek giving a defense of these schools of thought, it’s among the closest thing we’ll see to a real debate between the ideals of statism and economic liberty.
H/T: Club for Growth
Just in time for Christmas, EconStories, the folks that brought us the Hayek/Keynes rap videos (“Fear the Boom and Bust” and “Fight of the Century: Keynes vs. Hayek Round Two”), have finally rolled out some swag, including t-shirts and coffee mugs:
If you enjoyed the video for “Fear the Boom and Bust,” which explains the decades old battle between ideas of F.A. Hayek and John Maynard Keynes, the guys at EconStories - Russ Roberts and John Papola - are looking for donations for their follow-up video.
In case you haven’t seen it, here is “Fear the Boom and Bust”:
Yesterday, I noted that Friedrich Hayek is getting some much due attention and respect in as Keynesian economics has again turned out to be a bust. And I also posted the video of “Fear the Boom and Bust,” which was put together by Russ Roberts and John Papola of EconStories, that outlines the decades old battle between ideas of Hayek and John Maynard Keynes.
About a month ago, Roberts and Papola gave a sneak preview of their next video at the Economist’s Buttonwood Gathering. Here it is: