Thursday, January 28, 2010

Keynes v. Hayek Video

Just in case this is the only blog you read that addresses economics, here is the Keynes vs. Hayek rap video that has been making the rounds this week.

I'm generally skeptical of these attempts to shoehorn important concepts into popular media formats, but this is really well done. Just don't let this be your only source of information. It's OK to put ketchup on your fries, just don't count it as a vegetable.

I'll say something more substantive about the debate in the future. While it's clear Keynes is getting a lot of discussion these days, I'm not convinced that the opposing argument in the popular discourse is Hayek's. (It's seems more like Hayek-lite.)

One nitpick with respect to the video. Near the beginning, Keynes calls Hayek on the phone and Hayek's body language seems to suggest he is not exactly sure what that strange ringing object is. Hayek died in 1992, so I don't think he would be surprised by a ringing telephone in a hotel room. Even one appointed in such a modern style.

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