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Fight of the Century: Keynes vs. Hayek - Economics Rap Battle Round Two - YouTube
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I'm watching you
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Lord Lord Keynes Wow it's it's such an
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honor indeed sir please just go
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just go right on through whoa whoa
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identification please
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here look Hayek like high explosives
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high high explosive we have a 1066 HQ I
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repeat we have a 1066 copy that Mike
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Louis mission 1066 that was just an
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example of how to pronounce man ladies
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and gentlemen members of the committee
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we are here today to consider the impact
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of government spending on our economy
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we're fortunate to have two world
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renowned economists to offer their
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testimony on the matter I see it took a
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detour down the Road to Serfdom talk
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about the end of Lee's affair she well
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shake it off ready I'm not pulling any
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punches in there I'm ready are you
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prepare for the return of the master
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John Maynard Keynes FA Hayek round to
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round 2.0
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same Economist's same beliefs new
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microphones you mustaches
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here we are peace out Great Recession
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thanks to me as you see we're not in a
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depression every destiny if you follow
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my lesson Lord Keynes here I come line
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up for the procession we brought out the
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shovels and we're still in addiction
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still digging don't you think it's time
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for a switch from that hair of the dogs
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friend the party is over the long run is
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here and time again so are you kidding
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look your works perfectly fine have a
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lots of great recession ended back in oh
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nine I deserve credit things would have
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been worse all the estimates proof it up
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Oh chapter and verse because of
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attrition forever so pious are they
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doing real science are confirming their
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bias their Keynesian models are tidy and
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neat but that top-down approach is a
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fatal conceit which way should we
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it's time to wait let's listen to [聽__聽]
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written hi mom and dad I could have done
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better had we only spent more too bad
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that only happens when there's a world
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war you can carve all you want about
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stats and regressions you deny World War
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two cut short the depression one data
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point and you're jumping for joy the
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last time I checked war is only
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destroyed there was a multiplier
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consumption just ranges we use stairs
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resources for every new pretty perverse
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to call that prosperity rationed meat
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ration butter a life of austerity when
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that war spending and in your press
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cried disaster get the economy thrive
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and grow faster
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you two only see what you want to see
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the spending on Ward
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really cushy EP unemployment was over
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almost down to zero that's why I'm the
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master that's why I'm the hero creating
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employment so straightforward craft when
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the nations at war and there's a track
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of every worker was sapped in the army
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and fleet we'd have full employment and
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nothing to eat
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which way should be too
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gettin high exactly
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what fun
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pretty
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and that jobs aura means not the ends in
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themselves people were to live better to
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put food on the shelves real growth
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means production of what people demand
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that's entrepreneurship not your central
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plan my solution is simple and easy to
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handle it's spending that matters why's
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that such a scandal money slashes
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through the pipes and the sluices
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revitalizing the economy's juices just
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like an engine installed in guns or to
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bring it to life we a quick spark
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spending the light but again the flow
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going where it goes doesn't matter just
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get spending losing lacking some tenders
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and the general wonderful don't fingers
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are healthy only some in a rut so
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spending country that's the heart of the
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matter too much is wasted as cronies get
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fatter he accompanies not a car there's
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no engine to stall no thanks we can fix
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it there's no it at all the economy's
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lost we don't need a mechanic put away
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the wrenches the economy's organic which
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way should we
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down
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until
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second round it
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what fun
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listen to
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when you do to help those unemployed
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this is the question you seem to avoid
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when we're in a mess would you have us
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just wait doing nothing until markets
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equilibrate I don't want to do nothing
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there's plenty to do the question I
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ponder is who plans for whom do I plan
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for myself or leave it to you I want
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plans by the many not by the view let's
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not repeat what's created our troubles
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not one real growth that a series of
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bubbles stop bailing out losers
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let's prices work if we don't try to
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steer them they won't go berserk come on
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are you kidding the wall streets are a
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shion's challenge a world view of
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self-regulation even you must admit that
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the lesson we've learned is moreover
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sights needed or else we'll get birth
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oversight the government's long baby in
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bed with those wolf Reed execs and the
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firm that they blend capitalism's about
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profit and loss you will have the losers
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there's no end to the course the lesson
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I've learned is how little we know the
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complex nothing circular flow the
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economy's not a classic and master in
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college to think otherwise if the
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pretense of knowledge
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days in ha
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let's listen
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yeah your high horse and you're off to
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the races I look at the world on a
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case-by-case basis when people are
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suffering I roll up my sleeves and do
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what I can do cure our disease the
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future is uncertain our outlooks are
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frail
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that's why pre markets are so prone to
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fail in a volatile world we need more
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discretion so state intervention can
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counter depression people are in chess
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men you move on a board at your whim
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their dreams and desires ignored with
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political incentives discretions a joke
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both aisles are twisting just their ISM
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smoke
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we need stable rules and real market
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prices so prosperity emerges and cut
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short the crisis give us a chance so we
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can discover the most valuable ways to
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serve one another
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Kings in hi
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around its
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which way should we choose off bottom up
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or more top down the fight continued
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gazing high exactly now it's time to win
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what font apple from the crown let's
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listen to thump it settings in high
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drove him down
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I say what say one
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but is my Austrian perspective
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you add these sighs shut up about this
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