Absolutely brilliant by GMU economist Russ Roberts. Indescribably great.
Source link: http://archive.mises.org/11531/fear-the-boom-and-bust/
Fear the Boom and Bust
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That is awesome.
Russ Roberts is great. His EconTalk is one of the best economics resources Internet has, along with Mises.org
Epic! Thank you so much for posting.
That was SO AWESOME.
Love it!
In the 1930s Hayek had more hair than Keynes.
What’s up with that?
Keynesians have more fun.
Regarding Hayek’s appearance, there’s this chestnut from Greg Whitman @ CSU Northridge:
http://www.csun.edu/~dgw61315/dgwhayek.html
Stranger wrote:
“Keynesians have more fun.”
Of course. It’s easy to have more fun today, when you don’t care about tomorrow.
That was thoroughly awesome.
I LOL’d SO HARD!
Awesome.
Now how about a sequel with Milton Friedman in it?
That was so incredibly full of awesome.
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.
Simply amazing.
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.
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.
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’.
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.
Roberts did a great job. Very cool.
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.
The portrayal of Keynes as a hard-partyin’ booze hound was certainly appropriate.
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.
The next video should be Rothbard vs Friedman, two best of friends up to the moment Friedman starts backing fiat currency.
So is Russ Roberts a full convert now?
Correction: fuzzy not fuzzing.
Simply AWESOME! Let me get it subtitled (into Spanish) for my Peruvian friends…
Simply AWESOME.. Congratulations!!! Let me get it subtitled (into Spanish) for my Peruvian friends…
That track is tight yo.
My college economics department (University of Arkansas) was all over this.
We all found the video hilarious!
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.
@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.
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
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