Fear the Boom and Bust: Keynes vs. Hayek - The Original Economics Rap Battle!

What people said

wonder_er · 2021-01 · Strong recommendation

For a hilarious and sharp rap-battle comparison of Keynes vs. Hayek (which... is basically the framework for all competing conversations on this topic) check out: Just a reminder - this is a rap-battle music video about economic policy. This is why the internet is amazing: Fear the Boom and Bust: Keynes vs. Hayek - The Original Economics Rap Battle!(Youtube)[0] [0]: [VIDEO]

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ramanujan · 2011-08 · Strong recommendation

You take the Keynesian view. It's difficult to discuss this in more than a soundbite, but the Hayekian view is well explained by these two videos: [VIDEO] [LINK] Well worth watching if you haven't seen them. In short, the opposite/Hayekian view contends that taxation is seizure of resources from profitable/efficient entities and redistribution towards unprofitable/inefficient entities. We saw this in extremis in the bank bailout, and more controversially in microcosm with individual redistribution. If you accept this -- that "profitable" correlates with "efficient", and conversely, though the correlation is not perfect -- then taxation is not a Robin Hood sort of thing that increases well being, but rather a move that ties the legs of the efficient sectors of the economy -- those that can post a profit even in tough times -- to those that are already underwater.

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Artifex · 2010-06 · Strong recommendation

At least Glenn Beck is attempting to educate himself/his audience. Although, he'd probably do better to show everyone this (it's educational, hilarious and very well done): [VIDEO]

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