Fight of the Century: Keynes vs. Hayek Round Two

[Dokkie]

Run time: 10:10 https://www.youtube.com/watch?v=GTQnarzmTOc   Posted on YouTube: April 28, 2011 By YouTube Member: EconStories Views on YouTube: 3219   Posted on DU: April 28, 2011 By DU Member: Dokkie Views on DU: 948

 
"Fight of the Century" is the new economics hip-hop music video by John Papola and Russ Roberts at http://EconStories.tv.

According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. Yet we're all uneasy. Job growth has been disappointing. The recovery seems fragile. Where should we head from here? Is that question even meaningful? Can the government steer the economy or have past attempts helped create the mess we're still in?

In "Fight of the Century", Keynes and Hayek weigh in on these central questions. Do we need more government spending or less? What's the evidence that government spending promotes prosperity in troubled times? Can war or natural disasters paradoxically be good for an economy in a slump? Should more spending come from the top down or from the bottom up? What are the ultimate sources of prosperity?

Keynes and Hayek never agreed on the answers to these questions and they still don't. Let's listen to the greats. See Keynes and Hayek throwing down in "Fight of the Century"!

Starring Billy and Adam from http://www.billyandadam.com

[DefenseLawyer]

1. Supply side baloney

Did you actually watch this?

[Dokkie]

2. I did and quite frankly

I thought it was interesting debate between the two leading economic schools. Yes I know it was made my Austrian people but they did fairly represent the Keynes side.

[DefenseLawyer]

6. Keynes is "beaten up" by Hayek, but the referee still declares Keynes the winner

Then the media all swarms around Keynes, while Hayek is congratulated by the "people". If you think this was balanced or an accurate "debate" that didn't take sides then you really didn't watch it And sorry, there is more to Keynesian economics than "Have a big war".

[SnakeEyes]

3. Putting the debate aside

It's creative and quite good artistically and musically. Who knew conservatives could be artistic? Now if they could just figure out comedy.

[szatmar666]

4. the funny part is that republicans are no followers of Hayek and dems are no followers of Keynes

other than that, perhaps it's the fight of the LAST century, not this one ;)

[szatmar666]

5. also, this is CLASSIC fascist projection: play the victim while you victimize society