Wednesday, January 27, 2010

Economics as Rap

Of all the battles confronting business, perhaps none is more important than the one in popular culture.

Movies, television, and music are powerful influences in shaping public opinion. Oliver Stone can convince more people than the Warren Commission. More people listen to music than read textbooks.

With that perspective in mind, enjoy what may well be the finest example of deep thinking and popular culture, an imaginary rap between the two economists Freidrich Hayek and John Keynes.

Hayek and Keynes held contrasting views of economic policy. Hayek was an advocate of the free market and warned of the dangers caused by easy money and interventionist government policy. Keynes advocated more government intervention to stimulate the economy and liberate it from the control of "animal spirits."

Watch. Enjoy. Learn.


Bill Woolsey said...

Did you see the reference to "broken windows?" Bastiat is everywhere!

Ben Asa Rast said...

Bastiat: he is seen and unseen!