"Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem
Uploaded by EconStories on Jan 23, 2010
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In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on the economic crisis. Before the conference begins, and at the insistence of Lord Keynes, they go out for a night on the town and sing about why there's a "boom and bust" cycle in modern economies and good reason to fear it.
Get the full lyrics, story and free download of the song in high quality MP3 and AAC files at:
http://econstories.tv
Plus, to see and hear more from the stars of Fear the Boom and Bust, Billy Scafuri and Adam Lustick, visit their site: http://www.billyandadam.com
Music was produced by Jack Bradley at Blackboard3 Music and Sound Design. It was composed and performed by Richard Royston Jacobs.
http://www.blackboard3.com
**Charging Bull© Arturo DiModica, 1998
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- John Maynard Keynes
- Friedrich August Von Hayek
- F. A. Hayek
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@TheSteelGeneraI Fascism is Progressivism. Its clear as day but some refuse to acknowledge it. They look past the history and fail to correlate it to the modern political ideology. Hannity is very much the opposite of a fascist movement.
@SakaScotii Oh, I entirely agree, correlation != causation.
That said, when there is a theory that *predicts* these results, a strong correlation such as this indicates one should start looking for influences of one affecting the other or a third item affecting both.
And yes, the math predicts these results fairly closely. That being the case, one has to accept Keynes as a working theory or present a better model, not simply scream, shout, and ignore inconvenient data because it offends you.
@TheSteelGeneraI To someone who knows Hayek your comment makes you look a little silly. You might want to take the time to get the basics of someone’s thought before you pontificate. In fact if you did take time you might find out that you are not that far away from Hayek after all. (& saying he designed the road to Serfdom is torturing the English language by the way). It is a myth that Hayek condemned the welfare state in the same vein of socialism.
Timmy and Ben are no more qualified to run the monetary system than two barmen.
@jonnanw Like Hayek said in round two. Prove your own bias. Your correlation argument is a simple example of the classic logical fallacy, 'after this, therefore because of this'. The multiple layers in your argument still do a poor job of disguising the fallacy.
Cheers anyways.
@TheSteelGeneraI I am glad you did not CALL me a racist. But your remarks are such that any casual observer would see your interpretation of my mention of 'minorities' as the correct interpretation, even if you were only asking me a polite question. Just covering my back. Guilty conscience? Not so much. The only thing i am guilty of is my lack of clarification. That is what happens when you have 500 characters.
Cheers
@TheSteelGeneraI Hey now. I am chill. There was no anger in my remarks. I did not say hyphenated minorities. i said hyphenated rights. You know...Women's rights. Black's rights. Midget's rights. White's rights. Gay rights. Muslim Rights. Christian Rights. Middle Class Rights. Jewish RIghts.
You said this: It's so funny, whenever whites complain about blacks "getting too much", they somehow never wanna BE an ethnic minority themselves....
Mayb U ddnt mean me but how wud I knw unles U disclaimed?
@SakaScotii dude, chill. Where did i say you were a racist, or that you are white? You display a guilty conscience, it seems which gives me hope, but bewilders me too, cos usually conscientious people like you don't have any love for the likes of Hannity.
I thought I was ASKING you whether you referred to ethhic minorities, justified cos of your coded language of "hyphenated minorities". You weren't talking about Brits with two surnames there! A proverbial Smythe-Jones, anyone?
@TheSteelGeneraI Yes I am white. Good guess. But what if you were wrong? Stereotyping! TSKTSKTSK. There is no shortage of black (and any number of other ethnic designations) men (and women) out there that are saying and have said what I said. It doesn't automatically mean they have the slave mentality.
MLK:I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin, but by the content of their character.