The Fight of the Century is a cool video that depicts a rap battle between John Maynard Keynes and FA Hayek. Arguably the most influential guys in economics in the last century. Of course, they had opposing views otherwise this wouldn’t be a rap battle it would be a fist bumping gangland bop in caddies, or whatever.
Good for econ noobs and econ geeks alike. And for people in between, like me. Good for the lolz also i think. But not as lol worthy as Darth Vader Vs. Hitler say, but thats just slap dash humor. This here my good sir is intellectulolz. I reserve the coinage on that one. thankyou.
Keynes is famously known as the man who ended the Great Depression. His policies have somewhat stop started the Great Recession (these names i tellya) as well, but only barely. And many argue that the great recession wasn’t all that great as it was stupid. And the slacking rate of job creation makes them wonder if it has even ended as they say.
Hayek is the geek of the schoolyard who gets the last laugh (or the last lolz) on this one. He argues that u need to look at things from the bottom up and not top down. Advocates the free reign of markets and the surfing of the boom and bust economic cycle. You can’t let prices function if you bail out the failures.
Anyway, the above was a very disfigured narrative. I was just thinking that it was time for a blog post, then i saw this video courtesy Tim Harford (http://twitter.com/timharford). Or it could have been the other way about. Anyway ’tis pretty epic.
Now, enough talking. Here..