Fight of the Century: Keynes vs. Hayek Round Two

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"Fight of the Century" is the new economics hip-hop music video by John Papola and Russ Roberts at http://EconStories.tv.

According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. Yet we're all uneasy. Job growth has been disappointing. The recovery seems fragile. Where should we head from here? Is that question even meaningful? Can the government steer the economy or have past attempts helped create the mess we're still in?

In "Fight of the Century", Keynes and Hayek weigh in on these central questions. Do we need more government spending or less? What's the evidence that government spending promotes prosperity in troubled times? Can war or natural disasters paradoxically be good for an economy in a slump? Should more spending come from the top down or from the bottom up? What are the ultimate sources of prosperity?

Keynes and Hayek never agreed on the answers to these questions and they still don't. Let's listen to the greats. See Keynes and Hayek throwing down in "Fight of the Century"!

Starring Billy and Adam from http://www.billyandadam.com

Visit http://www.econstories.tv for the full lyrics.

• Category

  News & Politics

[Carlos Lam]

Love how Hayek has the gold robe and that 1 of his trainers is Say.

[AnCapped]

Marx isn't a respectable enough intellectual to enter the ring with Hayek or Keynes. He was a fool who based his ideal society on violence and coercion. Detestable and violent neanderthal.

[AnCapped]

He was a philosophical barbarian. This is not up for debate or discussion. If you'd like to continue to be a dead man's lapdog, you go right ahead. I prefer intellectual honesty, Marx was nothing more than a literate neanderthal.

[Bryn Walsh]

Woooaaah now that's a load of shit.

You know nothing about Marx besides the cold war, do you?

Marx was a towering intellectual whose influence pervades almost every social science even today- AND NOT IN THE COMMUNIST WAY.

[Harpsichord246]

Hayek won.

[Karnko]

Government intervention works fine for Germany and China. although both consist of a mix of the two. I really wasn´t able to understand so far why one would go for one of their ideas, instead of going for a mix that actually works outside of economy "math", there is no homo oeconomicus corruption is normal in the state and in private corps. Besides if one doesn´t like the sovereign, one can just leave it ;D

[tahosso01]

The video is full of subtle elements, really well thought! The main point however is that, as the fight, the economic policy is rigged...

[Josué Tonelli Cueto]

It's not faulty logic, it's argumenting that total rejecting of violence in all the cases is irrational. In the same manner, I expect that state will use the violence to control criminals, not always the power of the word is sufficient. Nevertheless, you have not to confuse what Marx said, use of violence only as a mean to obtain the proletary class the production means, with what maybe was made in his name by other radicals.

Marx was not a violent man, the contrary is a manipulation of truth.

[AnCapped]

To say that you can't call one man barbaric, simply because there are worst atrocities being committed is rather faulty logic. His philosophies in comparison to more moral philosophers of his time were indeed barbaric. He was a barbarian.

[Klyuykovt]

=/

Just tried to watch it again - 1:36. There it is. Thank you once again!

[Klyuykovt]

Thank you! But how did you find it out? Where, at the video, his name can be seen?