"Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem

[coolkid1446]

Boom=Greed Bust=Panic ....Sounds like normal humans to me. Wouldn't you have to change mankind to avoid boom and bust. Goldrush, Oil, Coal, Steam, Airplanes,Steel, Plastics, Microprocessors, ...That's whats missing....we need a new fad to throw our money at. We burnt out... What happened to robots anyways......

[blue222blue]

In real life, if a bartender serves drinks to an obviously drunk patron, the bar owner can be liable for crimes such as drunk driving.

The bar owners, viz the American people, ought to fire Ben and Tim!

November, yo, and November '012!

[TheVoiceOfReason93]

Have anyone studied WWII?! The government's massive spending in WWII increased by over 1000%, and created War industries which reduced unemployment to non-existence by 1944, giving people income which they could spent on, stimulating demand and the economy! The Keynesian Economy transformed the US into an economic superpower - so don't blast it.

[ssg10]

@TheVoiceOfReason93 sorry, just a question: are you saying that a WWIII coming soon just and initiated by america, because america is broke and needs war industries again due to keynesian economy?

[freedomisfree1776]

these guys are racist!!!

If you don't like a private bank controlling the u.s. / world depression than you are a racist.

slavery is for those who care for the MASTERS.

[ohpina]

Wow, well all scenary are really interesting and the way to discuss the economy. I wonder what would be happen if Marx, Smith and David Richard were alive like them.

[mexaguil]

Why did you upload this video if it is exactly the same as what econstories has? It just confuses things

[kaitenuser]

"Everyone is Keynesian now!" <- That is why we are in half the mess we are in now. Getting a PhD in Econ is no different. I learned more about econ on wiki and youtube than I ever did learning about value functions in an economic dynamic programming problem :-\

[Lonovavir]

LOL, Economics + Rap, normally I'd avoid watching for the rap factor alone, but I like Economics so I can forgive the rap part.

Depression, recession, now your questions in session!!!!

Party at the Fed!!!!

[enduro0276]

Really, Really, cool!!!

[eurohim]

Thems some deep rhymes.

[wdcsucks1]

what is hayek for?

[haggsbo]

Close to Ron Paul on Economics...

[wdcsucks1]

oh, thats why he is not enjoying the party :))

[danbuck333]

prevent the boom then you can prevent the bust

[jcbqwerty]

@danbuck333 surely if yuo prevent the boom then u prevent expansion? and by preventing the boom your pretty much in a command economy?

[danbuck333]

@jcbqwerty NO

[mjen22160]

haggsbo and uu331

Give us the links to vids you are talking about if they are on youtube. Thanks

[haggsbo]

@mjen22160

Just Google the following:

"Commanding Heights time map on PBS"

There is a time-line with video...pretty good for the basics to get you started.

[whippoorwillss]

dope!

[haggsbo]

I would also add that it is rather "PHAT" as well , Sir!

[AndyMH182]

My life is now complete

[tak178]

Any free market supporter worth their salt would support Hayek.

[jimmymc05]

Keynes..

"Yeah, but he's a pervert, Dude."

[mcgrawtim123]

Great video. Thanks for posting.

[UU361]

Keynes is probably rolling over in his grave as what is going on now is not what Keynes in fact taught, politicians and neoclassical economist have left out step 2 which said governments pays back the money they borrowed during good times.

Hayec may be dead on with Road to Serfdom in our future how ever.

[haggsbo]

I'm a Hayek fan. That being said, I think Keynes also said that the spending should be temporary...not until the nation defaults

[Michael7893]

Remember the powers that be didn't intend to save anyone. The ultimate goal is the agenda. To become a global world government. Keynes theory is only a means to a end. Larger government and the credit trap that leads to wage slavery.

[UU361]

Yes that is what his theory was and it also didn't work even in the 30's for FDR or Japan, when taxes were raised the whole thing collapses again.

Hayer seemed more concerned about socialism if I remember I may have to read the books again, we don't have that either. Looks more like fascism and Hitler and WW111 could be in the future to me.

[haggsbo]

I agree

[UU361]

Goggle Commanding Heights time map on PBS, Keynes saw the war coming in the 40's as a result of the war reparations. Good videos about Hayek at that time as well along with the German hyperinflation.

[haggsbo]

Also...I liked The Fatal Conceit even better than The Road to Serfdom.

[UU361]

I have them both but it's been a few years since I have read them, guess it's time of a re-read.

Too many books and not enough time.

[haggsbo]

Pretty interesting stuff...Did you see the one regarding Hayek's Mountain meeting? I forgot about that..interesting that you had Friedman and Misis there.

[UU361]

Yeah I saw it, I have that site in my favorites on my browser and watch those fairly often, the German hyperinflation and the wiping out of the middle class is the one I keep going back to, it seems like what is in play here. We know what follows that.

[haggsbo]

The Chile one is strait out of Road to Serfdom...planners fail, get a "Strong Man" for the job...pretty scary...

[UU361]

More then likely the US had a lot to do with that, we have been down there dicking around with those countries for decades.

The rest of the world doesn't call us the ugly Americans without somewhat of a good reason.

That sight is pretty good for getting people who don't have a clue up about history and economics up to speed with a little guidance.

Take care, time for this one to go home.

[chihockeygal20]

Awesome!

at 304 views

[fatpius]

wOw! that's different! will revisit. thank!

[iMurakii]

love it! hard to follow at times.

[KnowledgeDriven]

awesome find! very creative!

5 *, fav'ed!

[glorifiber1]

Lol! A must watch for economy major!