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Fear the Boom and Bust

Absolutely brilliant by GMU economist Russ Roberts. Indescribably great.

arrow33 Responses

  1. Raul
    40 mos, 2 wks ago

    That is awesome.

  2. 40 mos, 2 wks ago

    Russ Roberts is great. His EconTalk is one of the best economics resources Internet has, along with Mises.org

  3. Juraj
    40 mos, 2 wks ago

    Epic! Thank you so much for posting.

  4. 40 mos, 2 wks ago

    That was SO AWESOME.

  5. Terri K
    40 mos, 2 wks ago

    Love it! :D

  6. Greg Ransom
    40 mos, 2 wks ago

    In the 1930s Hayek had more hair than Keynes.

    What’s up with that?

  7. 40 mos, 2 wks ago

    Keynesians have more fun.

  8. Fred
    40 mos, 2 wks ago

    Regarding Hayek’s appearance, there’s this chestnut from Greg Whitman @ CSU Northridge:
    http://www.csun.edu/~dgw61315/dgwhayek.html

  9. Russ
    40 mos, 2 wks ago

    Stranger wrote:

    “Keynesians have more fun.”

    Of course. It’s easy to have more fun today, when you don’t care about tomorrow.

  10. Slim934
    40 mos, 2 wks ago

    That was thoroughly awesome.

  11. Phil
    40 mos, 2 wks ago

    I LOL’d SO HARD!

  12. Daniel Hewitt
    40 mos, 2 wks ago

    Awesome.

    Now how about a sequel with Milton Friedman in it?

  13. 40 mos, 2 wks ago

    That was so incredibly full of awesome.

  14. P.M.ella
    40 mos, 2 wks ago

    Damn cool. “Prepared to get schooled in my Austrian perspective”. Ron Paul ought to say this whenever Beardy Ben testifies before the House Financial Services Cmte. (if ever he gets to a 2nd term as Fed chief)

    They ought to do another one featuring a totally pimped out von Mises engaging the socialist posse.

  15. Kerem Tibuk
    40 mos, 2 wks ago

    Simply amazing.

  16. 40 mos, 2 wks ago

    Thanks for all the excitement, guys! Spread it around. Use it as a tool to spread Hayek to the masses. This is only the beginning.

  17. Joe O.
    40 mos, 2 wks ago

    Great video. I really like the hip-hop theme for two reasons. One, it adds a little flare to a topic most people think is boring to talk about even or study. Two, it puts Keynesian economics into a perspective a lot of people can understand once they see it. Its nothing more than an elaborate and complex street hustle or con job.

  18. Fallon
    40 mos, 2 wks ago

    Did Roberts do the “Christian Side Hug” as well? Just sayin’ cuz every rap made as PSAs, religious messages or educational devices always seem heavy on the gun shot sounds. Who is shooting? Why?

    Tru dat, some economists ought to be shot. Just sayin’.

  19. Jeffrey Tucker
    40 mos, 2 wks ago

    Note the debate about ATBC at Reddit
    http://www.reddit.com/r/Economics/comments/au32i/fear_the_boom_and_bust_a_hayek_vs_keynes_rap/

    This is what the video is intended to do, make people think more carefully about this subject. This is the kind of thing Mises strongly believed in: making economic theory part of the mainstream of life.

  20. J Cortez
    40 mos, 2 wks ago

    Roberts did a great job. Very cool.

  21. 40 mos, 2 wks ago

    Yes, Russ has it, I guess it’s just too simple for people. Does anyone think the video plays into Krugman’s mock-morality play of the “Hangover Theory”? (Or is it subtly mocking it? *Too* subtly?) Hangovers aren’t painful enough. To mix my metaphors: perhaps it would be more effective if the seed-corn devouring grasshopper of this tale awakes the next morning to realize that he’s drained his wife’s joint bank account in the procurement of prostitutes.

  22. Bob Kaercher
    40 mos, 2 wks ago

    The portrayal of Keynes as a hard-partyin’ booze hound was certainly appropriate.

  23. 40 mos, 2 wks ago

    I hope it creates interest in finding out the difference between economic theory and quackery. That is my only criticism. The conflict between the deceptive socialism of Keynes and the adherence to classical liberalism by Hayek appears as a fuzzing distinction almost throughout the entire skit. Keynes is definitely not portrayed vulgarly enough and Hayek is portrayed as an associate.

  24. Curt Howland
    40 mos, 2 wks ago

    The next video should be Rothbard vs Friedman, two best of friends up to the moment Friedman starts backing fiat currency.

  25. Ash
    40 mos, 2 wks ago

    So is Russ Roberts a full convert now?

  26. 40 mos, 2 wks ago

    Correction: fuzzy not fuzzing.

  27. Raul Alosilla
    40 mos, 2 wks ago

    Simply AWESOME! Let me get it subtitled (into Spanish) for my Peruvian friends…

  28. Raul Alosilla
    40 mos, 2 wks ago

    Simply AWESOME.. Congratulations!!! Let me get it subtitled (into Spanish) for my Peruvian friends…

  29. Chris
    40 mos, 2 wks ago

    That track is tight yo.

  30. Raymond T. Walter
    40 mos, 2 wks ago

    My college economics department (University of Arkansas) was all over this.

    We all found the video hilarious!

  31. 40 mos, 2 wks ago

    How great would that be if every college economics department circulated this? We seem to be very close to an ideological change. The internet is serving as a great equalizer, counteracting the propaganda of the State.

  32. hugolp
    40 mos, 2 wks ago

    @Raul Alosilla

    I am working on the spanish subtitltes. I alredy have all the keynes part done. Tomorrow I thing I will have all of it. Then I will get a couple of friends to check for mistakes and I will release it.

    Send me an email if you want to be notified.

  33. anouk
    37 mos ago

    does anyone know answers to these questions?
    To what kind of destruction is Keynes referring to? Come up with at least two categories
    of destruction!
    and
    Hayek raps “that new money is confused for real loanable funds”. What does he mean?

    Thank you
    anouk