Keynes vs Hayek – Fight of the century

In: Global Economy Humor US Economy Video

28 Mar 2013

OK, this isn’t a chart. But it is an incredibly well designed and hilarious rap video about economic theory.  Images and methods are are powerful communication tools. Check out EconStories for more music videos and mini-documentaries.

2 Responses to Keynes vs Hayek – Fight of the century

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marcos

March 28th, 2013 at 10:18 am

Now, if only the so called Hayek team followed his premises instead of culting Rand.

And images are powerful indeed, associating Keynes with Wall Street sharks was highly misleading.

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lam

March 29th, 2013 at 3:18 pm

Funny thing is, Keynes and Hayek were actually friends. If you read much about their interactions they agreed on most subjects, especially the key tenants of Keynesian-ism.

Hayek mostly took his positions against government intervention on ethical grounds, thinking too much government power could too easily lead to what he had seen happen in Europe. He never really made the argument that intervention wouldn’t work, that was Friedman’s argument.

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