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.