SMACKDOWN: HAYEK VS. KEYNES!


IF ECONOMISTS JOHN MAYNARD KEYNES AND F.A. HAYEK GOT INTO A  FIGHT, WHO’D WIN?

If it was a real knock-down, drag-out brawl, my money would be on Keynes.  At 6’ 6”, he’s got the size, the weight and the reach.  Hayek couldn’t  lay a glove on him.

But what if they were ‘bust’n moves’  and throwing down rhymes?  Then, Keynes could have a real fight on his hands.

EVER WONDER IF DESTROYING THINGS LIKE PERFECTLY GOOD AUTOMOBILES (REMEMBER “CASH FOR CLUNKERS”?) CAN REALLY CREATE JOBS AND “STIMULATE THE ECONOMY”

EVER WONDER IF DICK “UNDISCLOSED LOCATION” CHENEY WAS RIGHT WHEN HE SAID “DEFICITS DON’T MATTER”?

EVER WONDER WHAT KEYNES MEANT WHEN HE SAID “IN THE LONG RUN, WE’RE ALL DEAD”?

If so, you’ll love this new rap “smackdown” which distills the war of ideas between the two economists whose theories are still the guiding force,  jusification and/or excuses for most of the economic and political initiatives you hear about every day.

“Freddy H” and “Big John” may have passed on to wherever it is one-handed economists go, but their ideas are very much alive.  In  fact, I submit that it is impossible to make heads or tails of much of the current debate regarding bailouts, the declining value of your savings dollar, Ben Bernanke’s “stimulus”, tax increases, tax cuts or most of what passes for financial news reporting these days without understanding the ideas in this rap smackdown.

The rap is dense with economics and in-jokes. It almost requires a graduate degree to get everything.

Check it out, and then see the version I’ve posted below with “cliffnotes” that will help you understand the references you’ve missed but may be afraid to admit.

http://www.dailykos.com/story/2010/3/1/8929/21462?goback=%2Egmp_2776950%2Egde_2776950_member_39547702

Advertisements

About Surfing The New Normal

A blog dedicated to exploring new ways of thinking that lead to success in business and in life, & creating the person you really want to be. We apologize in advance for anyone we inadvertently or purposely offend and would like to take this opportunity to emphasize the importance of keeping a good sense-of-humor and an open mind. Enjoy. "You have to be able to risk your identity for a bigger future than the present you are living." ~Fernando Flores "I am actually a paranoid in reverse. I suspect that people are secretly plotting to make me happy." ~J. D. Salinger "You have to create your life. You have to carve it, like a sculpture." -William Shatner "The only reason they come to see me is that I know that life is great- and they know I know it." ~Clark Gable
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s