This video is obviously wrong because my public school taught me that mixed market economies are far superior to free market economies because the government is better at planning our lives than we are. It's a shame my parents had to pay property taxes for an eastern bloc education...
@TessaAni If the were to be believed, the last 80 years has been amazing, and that's pure fiction. We've suffered two great depressions in the last 80 years, while suffering zero prior to that. Not to mention the recessions of the pre 1930 era were in fact short lived and the growth afterward was extremely fast. Accounting just for the debt accumulated, and the devaluation of the currency, America is not only bankrupt, but radically worse off than at any other time in its history.
@TheMadCrumpet I don't deny that, what I'm saying is its not the video.. they're just giving us the views of both of the economists. I don't think they're saying either are right, although you know, the argument is a bit more complicated than either of us are making out.. But all the videos doing is educating us.
@TessaAni Durning my history class they put up a picture of Capitalism and Socialism. The picture of socialism had a smiling sun, a bunch of happy workers, and a sad fat cat banker. For the Picture of Capitalism there was storm clouds, sad tired workers and a fat, rich banker.
Tell me that is not trying to send subliminal messages. I could go on and on about all the other BS they taught me. My history teacher only had sublime things to say about FDR. There is clearly a bias.
@TheMadCrumpet You're quite obviously not understanding my point. I'm not talking about who's right/who's wrong/who's biased (although if you wanna get onto that the videos if you watch them properly agree that they're biased towards Keynes (left wing)). I'm merely commenting that the video isn't wrong, its merely an educatory tool.
@TessaAni I agree that both men were geniuses and had very worthy points, but the difference lies in how Hayek is demonized by educational institutions. It's quite obvious that our educational system has been overrun by left-leaning teachers that are very willing to push students to the left end of the political spectrum.
@mtb416 that may well be true to be fair, although its understandable that teachers would be left-leaning. But I agree, I think Hayek can in many instances get a bad name, and I think its important to learn all sides of the argument otherwise things become a religion.
@mtb416 I agree with Tessaani. Growing up (I'm 25 so not that long ago), my teachers were always left-leaning big government promoters. I'm not sure why it was that way, but it most certainly was. I never saw a demonization of Hayek or Friedman, they were just totally ignored to start with (seriously, I never heard a single thing about either of them until I studied it on my own) and Keynes was considered the Lord Savior.
@mtb416 In the Uk at least most children are sent to schools run by the State. It seems reasonable to assume that such people will tend to be inlvined towards a pro-statist worldview.
Absolutely amazing! I would have never believed the field of Economics would have made its way into the main stream when I was in college. The most influential teacher could explain theory to a plumber. And you, my friend, have proven to have the makings of a truly valuable teacher. Beautiful demonstration.
Omg!!! Just watched this amazing rapper from the valley!! This Kidd is sooo hot and very talented!!! Ladies, u wnt be disappointed! He's real raw talent!!! I'm already a fan. Check him out @DavidMerx420
That's why ultimately, the Austrian school wins ;)
Doesn't matter HOW MUCH you try to spend your way to power and above responsibility. Numerous governments have tried throughout history, and they've all failed.
Yeah, he transformed the econ profession into a profession of QUACKERY and CHARLATAN INTELLECTUALS who think they know everything just because they're familiar with a few ridiculous abstract theories which are "credible" just because they involve, and then use their statistics to try to sound smart and so become "advisors."
Keynes created the demand for economists because he made it seem like there were people who know how to "fix" things...where were economists before him? THERE WERE NONE
--->> Ron Paul 2012 -- MONEY BOMB --- TODAY!! <<---- ronpaul2012 . com
Donate toward preserving the liberties which our government has grossly perverted since the founding of our nation. Help restore our rights and freedoms.
"America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln
"The only thing necessary for the triumph of evil is for good men to do nothing" Edmund Burke
Keynesian economics is starting to show its frailties. You cannot control economies with success. If it did work there would be no recessions at all. It's comparable to buying $300 worth of lottery tickets and winning $5.
@fiscalconservative76 govt produced GDP figures are a joke. monetary expansion is higher than real price inflation which is in turn higher than the bogus CPI. the depression is hidden under a cloak of bogus statistics.
Keynes strategy builds on a interesting but secret principle. By taking money from the rich and giving jobs to the average joe - even an ineffective government job - you'll sitll get economic growth. This because the working class consumes the working class products. It uses the roads and the busses and the schools the government has. Luxury product production hurts the economy.
This is what drives the Kenyan theory. In a communist country it wouldn't work. But in a capitalist one it does.
@UberVersatile You seem to be confusing production and consumption. They are two different concepts entirely, something which escapes most Keynesians.
I watched this in my Economics class the other day.. It completed my life. If every lesson was made into a rap video, I would understand everything so much better.
If anyone out there thinks there's any question, just look at graphs of govts, states, all kinds of different ones to see the strong correlations they talk about in scientific papers.
People, this isn't the place to argue High Economics. Is the comment thread of a video that is enjoyable to watch in of itself. Personally, I'm pro-Keynes, but I enjoy Hayek's verses as well, because he argues his point well and the song is just plain cool.
In a mathematically perfected economy, we would actually "pay" a house for a house... no being exploited by banking
Apparently today, some people believe its economical for us to pay the bank 3 houses for publishing the evidence that we bought 1 house from the true creditor, whom they denied interest ?
No one wants environmental/public food-drug safety deregulation. No one wants to work for 3$ an hour, and no one wants to pay tolls for privatized roads. We don't want your "free" market.
@maozebong100 you would be free not to work for $3 bucks an hour and you wouldnt have to pay for something you use unless you use it! $3 was $3 until the gold standard was abandoned systematically and the scam began! You are doomed and i am sorry I cannot bail you out on that but you might be stimulated by my package as I quantitatively ease 1 into your deep debt hole to try to bring you back to life after I pumped you dry! Oh you want some QE2? some QE3? can you get enough? lol
@maozebong100 Roads will always be part of the governments job, that IS there job... lol. If you get low wages, unions work really well to increase those... and since you say no one wants deregulation of environmental and public food/drug safety regulations, O well then, in a "free" market deregulation won't happen if no one wants it too, understand?
@bigpapa1786 Both advocated banks/banking (& interest)... screw money changers
Theres no free market if you are unable to issue your own promissory obligation free of all manipulations & exploitations... So, no banks in a true free market coz banks steal circulation & cause circulatory deflation & price inflation
An immutable (mathematically perfected) currency is only possible in a mathematically perfected economy
@ott0Kitam Ron Paul not only favors the Austrian model but would also eliminate the Federal Reserve, thus restoring control of currency to the people instead of private banking interests.
@thoth81 Im sorry to inform you that he doesnt want to restore currency to the people unless its thru a subverted from of money from a banking system
He never once has, nor will he, mention promissory obligations/notes, nor does he mention the theft of principal which banks have always stole from us... He instead talks about gold, always trying to mislead people into believing that a material would somehow have insulated money from interest
@ott0Kitam What, exactly, do promissory notes have to do with currency? How does a legal document specifying that person A owes person B $X have anything to do with currency?
Gold is a far better currency than paper bills. Always has been, always will be. That is his point. If you dive further into the Austrian model - where it cannot be explained in a few minutes - you would find that many of them support a 100% reserve system, which prevents banks from stealing principal for their loans.
@ott0Kitam How does wresting control of issuance of currency from the Federal Reserve and restoring it to the Dept. of the Treasury not mean what I stated?
Read what mtanousable said regarding the eradication of fractional reserve banking.
Also, you mischaracterize Paul's position. He talks about gold (and silver, just sound money, period - look at Australia with a basket of commodities backing their currency) as insulating money from runaway inflation.
People have this misconception that free market capitalism is to blame for our recession.
Unfortunately for them, they are wrong. The reason why we are in a recession is because of too much government intervention(i.e., subsidizing corporations like Freddie Mae and Fannie Mac, granting artificial monopolies to said corporations, etc).
Sadly, most do not have the courage to accept this fact, thus, we will continue on the road to serfdom.
Mae and Mac had nothing to do with the housing bubble, we trended proportional with any other country facing the same bubble. And artificial corporations? If you mean bailouts to banks, sure. They shouldn't have been that big to begin with. You shouldn't blame the government but the greedy banksters. Sounds like you're drinking Libertopia kool-aid
@maozebong100 Fannie Mae and Freddie Mac were specifically designed (with bi-partisan support btw) to lower interest rates on mortgages to encourage home ownership. So of course they had a role in the bubble. That along with slack monetary policy resulted in artificially high demand for housing.
Banks are too big to fail thanks to heavy federal regulations that punish smaller banks because they can't absorb the fixed costs as well as big banks. This is true not only in the U.S, but worldwide.
I was going to respond to your inane response to my argument, but I notice that dick391 already did it for me.
Furthermore, the "greedy banksters" would not have the ability to loan outside of their means without the government guaranteeing them bailouts for such economic errors. If we had an Austrian free market economy, corporations would not be giving such loans as such loans are not competitive in an actual market.
Lets look at some succesfull countries under right winged capitalist economy. Hmm, oh, none. Yeah ok, Japan (which have had massive protest, and also have taxes and is one of the most regulated countries in the world) and singapore and Hong Kong (which both have had recent demonstrations and protests to start regulating business to provide people with a fair income and labor rights.
Apart from those, there are none. On the other side, you have almost every single european nation.
Oh, groannnnnnnnn. As a black guy, raised in the South Bronx during hip hop's nascent period (underway by 1973, you should know), and as an "Austrian," economically speaking (i.e., Menger, Mises, Rothbard), all I can say to this is: oh, groannnnnnnnnn. I'd submit to Keynesian macroeconomic policies rather than ever have to hear this again. Make it stop! OH, GOD, PLEEEEEASE MAKE IT STOP!!!!
@waltermatthewberg Corrupt politicians, people who want the government to accrue debt, and people who have lost contact with reality prefer the Keynesian model.
Could you please check out my channel. It would really mean a lot. I have a dream to become big and without you guys It wouldn't be possible. Please like this so it can be at the top. Thanks and like this.
A Featured Video that DOSN'T SUCK!
Armortidge 6 hours ago
Whatever side of the fence you're on (Hayek for me), you have to agree this video is epic
stebecool 10 hours ago
Check out my flow @ RED BRONX FREESTYLE
REDER4EBKREW 1 day ago
Smartest rap ever created. Period.
mtb416 1 day ago
This video is obviously wrong because my public school taught me that mixed market economies are far superior to free market economies because the government is better at planning our lives than we are. It's a shame my parents had to pay property taxes for an eastern bloc education...
TheMadCrumpet 2 days ago
Comment removed
TessaAni 2 days ago
@TessaAni If the were to be believed, the last 80 years has been amazing, and that's pure fiction. We've suffered two great depressions in the last 80 years, while suffering zero prior to that. Not to mention the recessions of the pre 1930 era were in fact short lived and the growth afterward was extremely fast. Accounting just for the debt accumulated, and the devaluation of the currency, America is not only bankrupt, but radically worse off than at any other time in its history.
TheMadCrumpet 1 day ago
@TheMadCrumpet I don't deny that, what I'm saying is its not the video.. they're just giving us the views of both of the economists. I don't think they're saying either are right, although you know, the argument is a bit more complicated than either of us are making out.. But all the videos doing is educating us.
TessaAni 1 day ago
@TessaAni Durning my history class they put up a picture of Capitalism and Socialism. The picture of socialism had a smiling sun, a bunch of happy workers, and a sad fat cat banker. For the Picture of Capitalism there was storm clouds, sad tired workers and a fat, rich banker.
Tell me that is not trying to send subliminal messages. I could go on and on about all the other BS they taught me. My history teacher only had sublime things to say about FDR. There is clearly a bias.
TheMadCrumpet 1 day ago
@TheMadCrumpet Are you kidding me? Was this a college or high school class?
mtb416 1 day ago
@TheMadCrumpet You're quite obviously not understanding my point. I'm not talking about who's right/who's wrong/who's biased (although if you wanna get onto that the videos if you watch them properly agree that they're biased towards Keynes (left wing)). I'm merely commenting that the video isn't wrong, its merely an educatory tool.
TessaAni 1 day ago
@TessaAni I agree that both men were geniuses and had very worthy points, but the difference lies in how Hayek is demonized by educational institutions. It's quite obvious that our educational system has been overrun by left-leaning teachers that are very willing to push students to the left end of the political spectrum.
mtb416 1 day ago
@mtb416 that may well be true to be fair, although its understandable that teachers would be left-leaning. But I agree, I think Hayek can in many instances get a bad name, and I think its important to learn all sides of the argument otherwise things become a religion.
TessaAni 1 day ago
@TessaAni I don't see why it's "understandable that teachers would be left-leaning."
mtb416 11 hours ago
@mtb416 I agree with Tessaani. Growing up (I'm 25 so not that long ago), my teachers were always left-leaning big government promoters. I'm not sure why it was that way, but it most certainly was. I never saw a demonization of Hayek or Friedman, they were just totally ignored to start with (seriously, I never heard a single thing about either of them until I studied it on my own) and Keynes was considered the Lord Savior.
stebecool 10 hours ago
@mtb416 In the Uk at least most children are sent to schools run by the State. It seems reasonable to assume that such people will tend to be inlvined towards a pro-statist worldview.
ffmarkm 2 hours ago
Window mender caught breaking windows....news at 9
MrScrichter 2 days ago
ingenious lyrics
vilameat 2 days ago
Absolutely amazing! I would have never believed the field of Economics would have made its way into the main stream when I was in college. The most influential teacher could explain theory to a plumber. And you, my friend, have proven to have the makings of a truly valuable teacher. Beautiful demonstration.
aem945532 2 days ago
Dennis Reynolds is really trying to advance his career.
whymesobig 2 days ago
oh i get it now why they are named Ben and Tim haha, Ron Paul 2012 biaaa
elahi2006 3 days ago
My Economics class caught my attention today with this video. And I don't even like rap.
TheDIYZombieHunter 3 days ago
ooohh i get it Keynes' book is where the Bible would normally be
Jraiser786 3 days ago
Ron Paul FTW
KLice926 3 days ago
Them And Their Weird Mustaches!! Lmao
Theresa Sent Me Here!!! <3
kEyRiGiL 3 days ago
"Ben" Bernanke & "Tim" Geithner? Haha!
djdoc 3 days ago
If only economics had been this interesting when I was in school!
delamitri100 4 days ago
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Check out our Channel and watch an Actress-Stripper Raps
AGLAproductions 4 days ago
sponge bob vs annoining orange
X2z77ftw 4 days ago
waw hero vs lol hero both r games
X2z77ftw 4 days ago
there's something very fishy about all of this.....
akgregor 4 days ago
Omg!!! Just watched this amazing rapper from the valley!! This Kidd is sooo hot and very talented!!! Ladies, u wnt be disappointed! He's real raw talent!!! I'm already a fan. Check him out @DavidMerx420
Skyqueen0101 4 days ago
Sweet!!!
wupeide 5 days ago
The free market will prevail!
HansBooBee 5 days ago
@HansBooBee It has to.
That's why ultimately, the Austrian school wins ;)
Doesn't matter HOW MUCH you try to spend your way to power and above responsibility. Numerous governments have tried throughout history, and they've all failed.
The US is next in line.
Spjungen 5 days ago
Should've put Clement Attlee in the background at 5:35.
He actually adopted Keynesian economics.
BasilFawlty4444 5 days ago
Keynes was English.
BasilFawlty4444 5 days ago
Eh...Nerdy dorks!
PaulineLovesPhysics 5 days ago
I am part of the 99%!.... that have this video a thumbs up.
TheMadCrumpet 6 days ago
Pretty sweet video, its info-tainment, it informs while it entertains.
thelonehighlander 6 days ago
Hayek's great and all, but Mises & Rothbard are cooler :D
Objectivist1994 6 days ago
@Objectivist1994 lol
Debatist 3 days ago
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Yeah, he transformed the econ profession into a profession of QUACKERY and CHARLATAN INTELLECTUALS who think they know everything just because they're familiar with a few ridiculous abstract theories which are "credible" just because they involve, and then use their statistics to try to sound smart and so become "advisors."
Keynes created the demand for economists because he made it seem like there were people who know how to "fix" things...where were economists before him? THERE WERE NONE
Spjungen 6 days ago
Comment removed
Spjungen 6 days ago
you guys have to add friedman
sokica211 6 days ago
Set the Markets and the People Free!!
Adair1979 6 days ago in playlist More videos from EconStories
ولله يابة خوش فلم
ramiz3369 1 week ago
hayek is the better rapper but intellectually keynes is a little more convincing... lol
indgiu 1 week ago
Dank u wel, thanx for some nice Keynes - Hayek theories
WorkingClassHeroesBE 1 week ago
Awesome
greatleaper 1 week ago
This brings me back to when rap used to mean something.
sniper6081 1 week ago
@sniper6081 Rap meant something?
MaxamillianArturo 1 week ago
@MaxamillianArturo Fucks yeah. I'm talking old school though. I mean, public enemy old school.
sniper6081 1 week ago
I choose Hayek
themistermand 1 week ago
@themistermand boo! XD
IzzydaLlama 1 week ago
The Keynes quote at the end was the smartest thing he's ever said.
...about himself.
turtleking9999 1 week ago
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keynesian economics? more like kenyan economics, amirite?
eleutheromaniac 1 week ago
keynesian economics? more like kenyan economics, amirite?
eleutheromaniac 1 week ago
check out king pen under w w w youtube com iamkingpen
like his music page w w w facebook com kingpencdc
wejerk191 1 week ago
Genialne/genious/brilliante :D
piajkstation 1 week ago
Should be part of the school curriculum! Brilliant!
diogenesagogo 1 week ago
i just realized that rap is for those who cannot sing.
TheDravidianwolf 1 week ago
@TheDravidianwolf singing too you is just having a pretty voice?
55runescaper 1 week ago
my dad was an economist at Oxford who knew Friedman and Hayek. He said Friedman was a f*****g b*****d and Hayek was a c**t
drainlid40 1 week ago
@drainlid40 Haha :p But I still love them :D
Andersll11 1 week ago
@drainlid40 - your dad sounds like a really intelligent guy !
lector0003 6 days ago
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RepentRecords00 1 week ago
Hayek is a fkn boss !! Austrian !?!
Zokshao31 1 week ago
the Keynesian system has worked before, It worked great in magical pony land, and the economy of imagination land seams to be flourishing.
d3ltadrive 1 week ago
Fidel Castro once said the only things that scared him was Economists. And he was well armed....!
bikerjon1 1 week ago
It should be noted that Keynes went bald before Hayek.
stalrunner 1 week ago
what did i just watch....
Bexico713 1 week ago
I agree it is very well done. Some people have such amazing creativity.
yummybeefyboy 1 week ago
This is GENIUS!!
kbooranakit 1 week ago
Austrian-side represent!
wsjiii 1 week ago
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--->> Ron Paul 2012 -- MONEY BOMB --- TODAY!! <<---- ronpaul2012 . com
Donate toward preserving the liberties which our government has grossly perverted since the founding of our nation. Help restore our rights and freedoms.
"America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln
"The only thing necessary for the triumph of evil is for good men to do nothing" Edmund Burke
ronpaul2012hope 1 week ago
0:38 i see what you did there
kirbz01 1 week ago
Ron Paul to end the FED RON PAUL 2012!!!
supersticky87 1 week ago
If Hayek's rap made more sense to you, vote Ron Paul 2012. If Keynes was your man for some reason, vote for anyone else.
korosuu 1 week ago
Keynesian economics is starting to show its frailties. You cannot control economies with success. If it did work there would be no recessions at all. It's comparable to buying $300 worth of lottery tickets and winning $5.
SaintSteven67 1 week ago
Ron Paul all the way! Austrian economics are the way to go!
diego147ify 1 week ago
This is good, I just started to rap so you can check out my videos. Watch them if you want, but if not than don't bother.
ExecutiveBranchRap 1 week ago
Hayek>>>>>>>>>Keynes
ImhoffInstruments 1 week ago
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who can see it? my first song... for my girl...russia. I not a professional singer. youtube.com/watch?v=GQRl8tC_Rho
kmsjohn 1 week ago
when it says Josh Meyers on here does it mean as in Seth Meyer's bro?
TessaAni 2 weeks ago
this makes my life. apart from the fact that neither of them are American..
TessaAni 2 weeks ago
nice made
TheKurdishdj 2 weeks ago
I love living in a world where Hayek is cool, Bob Murphy is even cooler and Ron Paul is about to win SC! Ron Paul 2012!
CODScumBags 2 weeks ago
Y = C+I+G+NX
Y =GDP
C = Consumption
I = Investment
G = Government Spending
NX= Net Exports
trekhead1 2 weeks ago
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@trekhead1 I think you mean Y = C+I-G+NX. Government spending is a net drain on GDP.
TheHireTheBetter 2 weeks ago
@trekhead1
GDP is a empty concept.
It really means nothing at all.
fiscalconservative76 1 week ago
@fiscalconservative76 govt produced GDP figures are a joke. monetary expansion is higher than real price inflation which is in turn higher than the bogus CPI. the depression is hidden under a cloak of bogus statistics.
hackingpete 1 week ago
@hackingpete
Of course pretty much any statistic by the government is a joke.
GDP fails because it is not possible to have such a statistic and it also ignores intermediate goods.
Just like how the government measures unemployment its more like 20-25% unemployed.
Its all about making things look good.
fiscalconservative76 1 week ago
White People Rap
MegaAllOfTheAbove 2 weeks ago
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For anyone that actually gives a fuck enough to read this whole thing
I am a young rapper in a 3 man rap group called the Veterans
We are trying to get noticed by working our ass off but it just doesnt seem to be working
If you would be nice enough to simply like this comment
Or if your a real boss then like and check out our channel then that would be amazing
Thanks for reading this hole long thing, i.k it sucks but thank you
veteransVEVO 2 weeks ago
if you like this go to C/R Beats Freestyle: World is Changing. That is our second rap check it out
coremil1 2 weeks ago
Keynes strategy builds on a interesting but secret principle. By taking money from the rich and giving jobs to the average joe - even an ineffective government job - you'll sitll get economic growth. This because the working class consumes the working class products. It uses the roads and the busses and the schools the government has. Luxury product production hurts the economy.
This is what drives the Kenyan theory. In a communist country it wouldn't work. But in a capitalist one it does.
UberVersatile 2 weeks ago
@UberVersatile You seem to be confusing production and consumption. They are two different concepts entirely, something which escapes most Keynesians.
mmnootzenpoof 2 weeks ago
@mmnootzenpoof nop
UberVersatile 2 weeks ago
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jeśli przeczytałeś ,,sakura verver'' jutro umrzesz chyba że wkleisz to do 20innych filmikow
SSokana 2 weeks ago
Motherfucking Polanyi all up in this bitch.
rightenough 2 weeks ago
Social 10-1
Canada
it was the best class :D
alamerri1 2 weeks ago
Hayek is the mannnn! Ron Paul 2012!
getthepoooffmybum 2 weeks ago
These videos are actually fucking brilliant. Every detail is a metaphor.
casualdissent 2 weeks ago
want something different, check my page out, ever been in a bad relationship? check out the song called greedy. Subscribe!
wartime1000 2 weeks ago
I watched this a year ago and didn't unerstand a thing, and now I understand everthing. :)
Linn3aJ 2 weeks ago
@Linn3aJ :D
casualdissent 2 weeks ago
@Linn3aJ social ??
alamerri1 2 weeks ago
For a New Perspective on the economy
Go to my blog @ walkercarmon . blogspot . com
WalkerTR121 2 weeks ago
@otto0Kitam
Then what do you propose we do? more regulations? or more competition?
bigpapa1786 2 weeks ago
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Check out this HIP HOP FOR RON PAUL youtubeDOTcom/watch?v=EqG-apYD_lA&feature=channel_video_title
In progress , Studio + mic version soon
Check out the Futurezone channel (Cat photo)
ashwadhwani 2 weeks ago
I watched this in my Economics class the other day.. It completed my life. If every lesson was made into a rap video, I would understand everything so much better.
CrescentsWorld 2 weeks ago
Ron Paul 2012
-I'm Friedrich Hayek and I approve this message
revmysleds 2 weeks ago
comment on one of my videos i will return the love.
TheRealCameronDrake 2 weeks ago
Free Ponies!
ZSwierczynski 2 weeks ago
If anyone out there thinks there's any question, just look at graphs of govts, states, all kinds of different ones to see the strong correlations they talk about in scientific papers.
MyTemporaryAccount88 2 weeks ago
People, this isn't the place to argue High Economics. Is the comment thread of a video that is enjoyable to watch in of itself. Personally, I'm pro-Keynes, but I enjoy Hayek's verses as well, because he argues his point well and the song is just plain cool.
Go make a Keynes v. Hayek Forum to discuss this.
JDarach 2 weeks ago
In a mathematically perfected economy, we would actually "pay" a house for a house... no being exploited by banking
Apparently today, some people believe its economical for us to pay the bank 3 houses for publishing the evidence that we bought 1 house from the true creditor, whom they denied interest ?
ott0Kitam 3 weeks ago
No one wants environmental/public food-drug safety deregulation. No one wants to work for 3$ an hour, and no one wants to pay tolls for privatized roads. We don't want your "free" market.
maozebong100 3 weeks ago
@maozebong100 So in other words, the only way you'll move out of your parents' basement is if you've got the government to take care of you?
Jbanks75 3 weeks ago
@Jbanks75 In other words, your fringe archaic view of society is poisoning the mainstream.
maozebong100 3 weeks ago
@maozebong100 you would be free not to work for $3 bucks an hour and you wouldnt have to pay for something you use unless you use it! $3 was $3 until the gold standard was abandoned systematically and the scam began! You are doomed and i am sorry I cannot bail you out on that but you might be stimulated by my package as I quantitatively ease 1 into your deep debt hole to try to bring you back to life after I pumped you dry! Oh you want some QE2? some QE3? can you get enough? lol
vilekyle22 3 weeks ago
Comment removed
kingz8ter 2 weeks ago
Comment removed
kingz8ter 2 weeks ago
Comment removed
kingz8ter 2 weeks ago
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@maozebong100 Roads will always be part of the governments job, that IS there job... lol. If you get low wages, unions work really well to increase those... and since you say no one wants deregulation of environmental and public food/drug safety regulations, O well then, in a "free" market deregulation won't happen if no one wants it too, understand?
kingz8ter 2 weeks ago
@otto0Kitam what do u mean theg didnt understand "true economics"? and dosent hayek understand immutable wages?
bigpapa1786 3 weeks ago
@bigpapa1786 Both advocated banks/banking (& interest)... screw money changers
Theres no free market if you are unable to issue your own promissory obligation free of all manipulations & exploitations... So, no banks in a true free market coz banks steal circulation & cause circulatory deflation & price inflation
An immutable (mathematically perfected) currency is only possible in a mathematically perfected economy
ott0Kitam 3 weeks ago
@ott0Kitam Ron Paul not only favors the Austrian model but would also eliminate the Federal Reserve, thus restoring control of currency to the people instead of private banking interests.
thoth81 1 week ago
@thoth81 Im sorry to inform you that he doesnt want to restore currency to the people unless its thru a subverted from of money from a banking system
He never once has, nor will he, mention promissory obligations/notes, nor does he mention the theft of principal which banks have always stole from us... He instead talks about gold, always trying to mislead people into believing that a material would somehow have insulated money from interest
ott0Kitam 1 week ago
@ott0Kitam What, exactly, do promissory notes have to do with currency? How does a legal document specifying that person A owes person B $X have anything to do with currency?
Gold is a far better currency than paper bills. Always has been, always will be. That is his point. If you dive further into the Austrian model - where it cannot be explained in a few minutes - you would find that many of them support a 100% reserve system, which prevents banks from stealing principal for their loans.
mtanousable 1 week ago
@ott0Kitam How does wresting control of issuance of currency from the Federal Reserve and restoring it to the Dept. of the Treasury not mean what I stated?
Read what mtanousable said regarding the eradication of fractional reserve banking.
Also, you mischaracterize Paul's position. He talks about gold (and silver, just sound money, period - look at Australia with a basket of commodities backing their currency) as insulating money from runaway inflation.
thoth81 1 week ago
This has been flagged as spam show
Unfortunately for the world, neither of these men understood true economics or an immutable currency and were paying the consequences :(
ott0Kitam 3 weeks ago
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ott0Kitam 3 weeks ago
HAYEK!!!! FREEDOM BITCHESS
1blackdeath51501 3 weeks ago
@1blackdeath51501 Ron Paul is the other way, drone.
maozebong100 3 weeks ago
@maozebong100 Hayek= free market Ron Paul= free market. dumbass
1blackdeath51501 3 weeks ago
@1blackdeath51501 There can/will never be a "free market" if banks continue obfuscating our promissory obligations...
& as austrians, both Hayek and Paul advocate banks/banking & interest...
Sorry, no free market
ott0Kitam 3 weeks ago
Both great economists, but Proudhon beats them both!
jackm24111859 3 weeks ago
How are ponies in the related video list! To this! They're everywhere!
Not that I mind. Ponies are rad.
jasenator1 3 weeks ago
Ron Paul 2012!!! Help honesty take a stand!!!
ILoveSaginawMichigan 3 weeks ago
MARX!!!!!!!!!!!!!
sergioPampli92 3 weeks ago
@sergioPampli92 you are a RETARD!!!!!!!!!
ShishirYerramilli 3 weeks ago
@ShishirYerramilli but You are a bourgeois, Marx win!!!!
sergioPampli92 3 weeks ago
@sergioPampli92
How does Marx win just because the other poster is a bourgeois? How does that logic even make sense?
the5thCount 3 weeks ago
KAYNES!!!!
socialisticdemo 3 weeks ago
I used to be an economist, until that day when I took an arrow to the knee.
Shocknlawl 3 weeks ago
wow. dat waz amazeing.
shadow67562 3 weeks ago
They actually made a good rap about the boom & bust cycle. Genius.
DistantLemon 3 weeks ago
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useanapkin 3 weeks ago
0:15 Wrong. CHUCK NORRIS is the agenda.
xtreme1002003 3 weeks ago
Rap starts at 1:05
Expoclock 3 weeks ago
People have this misconception that free market capitalism is to blame for our recession.
Unfortunately for them, they are wrong. The reason why we are in a recession is because of too much government intervention(i.e., subsidizing corporations like Freddie Mae and Fannie Mac, granting artificial monopolies to said corporations, etc).
Sadly, most do not have the courage to accept this fact, thus, we will continue on the road to serfdom.
the5thCount 3 weeks ago
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MrTreantHugger 3 weeks ago in playlist More videos from EconStories
@the5thCount So much ignorance.
Mae and Mac had nothing to do with the housing bubble, we trended proportional with any other country facing the same bubble. And artificial corporations? If you mean bailouts to banks, sure. They shouldn't have been that big to begin with. You shouldn't blame the government but the greedy banksters. Sounds like you're drinking Libertopia kool-aid
maozebong100 3 weeks ago
@maozebong100 Fannie Mae and Freddie Mac were specifically designed (with bi-partisan support btw) to lower interest rates on mortgages to encourage home ownership. So of course they had a role in the bubble. That along with slack monetary policy resulted in artificially high demand for housing.
Banks are too big to fail thanks to heavy federal regulations that punish smaller banks because they can't absorb the fixed costs as well as big banks. This is true not only in the U.S, but worldwide.
dick391 3 weeks ago
@maozebong100
I was going to respond to your inane response to my argument, but I notice that dick391 already did it for me.
Furthermore, the "greedy banksters" would not have the ability to loan outside of their means without the government guaranteeing them bailouts for such economic errors. If we had an Austrian free market economy, corporations would not be giving such loans as such loans are not competitive in an actual market.
So go and live under your rock you silly marxist.
the5thCount 3 weeks ago
@the5thCount Schiff is on. He wants you to buy his gold. Libertopia is sure to work!
maozebong100 3 weeks ago
@maozebong100
...
So you have no argument?
..........
Pathetic...
Furthermore, I am not a libertarian. However, I am an Austrian Capitalist.
the5thCount 3 weeks ago
Lets look at some succesfull countries under right winged capitalist economy. Hmm, oh, none. Yeah ok, Japan (which have had massive protest, and also have taxes and is one of the most regulated countries in the world) and singapore and Hong Kong (which both have had recent demonstrations and protests to start regulating business to provide people with a fair income and labor rights.
Apart from those, there are none. On the other side, you have almost every single european nation.
gulbirk 3 weeks ago
@gulbirk
What exactly are you getting at? right wing capitalism? you mean trickle down econ?
maozebong100 3 weeks ago
@maozebong100 Free market capitalism. Un-regulated markets and little state intervention in the economy.
That is right winged capitalism.
gulbirk 3 weeks ago
@gulbirk You don't have to say ''right winged'' or ''left winged''. It sounds weird in English. Just plain old right wing or left wing will do.
Malthus0 3 weeks ago
@gulbirk Ah, yes. It's failed.
maozebong100 3 weeks ago
@gulbirk So if I protest in a socialist country that's a mark against it then?
crazypants88 3 weeks ago
@gulbirk Because Greece, Italy, Ireland, Portugal, and Spain currently have very successful economies. The US used to have a free market.
MrTreantHugger 3 weeks ago in playlist More videos from EconStories
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MrTreantHugger 3 weeks ago
Oh, groannnnnnnnn. As a black guy, raised in the South Bronx during hip hop's nascent period (underway by 1973, you should know), and as an "Austrian," economically speaking (i.e., Menger, Mises, Rothbard), all I can say to this is: oh, groannnnnnnnnn. I'd submit to Keynesian macroeconomic policies rather than ever have to hear this again. Make it stop! OH, GOD, PLEEEEEASE MAKE IT STOP!!!!
dantean 3 weeks ago
@dantean lol you know theres another one
pintinify 3 weeks ago
@pintinify THERE IS NO GOD!!!
dantean 3 weeks ago
do you guys really prefer the keynesian model?
waltermatthewberg 4 weeks ago
@waltermatthewberg Corrupt politicians, people who want the government to accrue debt, and people who have lost contact with reality prefer the Keynesian model.
wallstreetatheist 3 weeks ago
KEYNES!
GenerationWhyMe 4 weeks ago
@GenerationWhyMe You misspelled HAYEK
Radolumbo 4 weeks ago
@GenerationWhyMe yes, Keynes just got his ass kicked by Hayek.
qing333 3 weeks ago
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TheNextWeezy1 4 weeks ago
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melodiesemedo 4 weeks ago
keynes killed it BOIII
maozebong100 4 weeks ago
Классно
jurikun45 4 weeks ago