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  • Fight of the Century 2.
    • KeithDB (Login KeithDB)
      Posted May 3, 2011 5:51 AM

      Awesome music video imparting the lessons of the competing philosophies of schools of Keynesian v. Austrian economics as rap boxing match between John Maynard Keynes and Friedrich Hayek. You can learn an awful lot of about the fundamental differences in economic assumptions and philosophies in this video.

      What this shows is that economics is a new and slippery science where even the most basic "laws" are the subject of debate. The debate between these two is so fundamental at the core of competing assumptions that's its akin to the debate over whether the Earth is round or flat, but without the data to definitely answer the question.

      Take your own side, but I think Hayek has the better argument. But our policy makers are pretty much all Keynesians.

      "The world is a mess and I just need to rule it." --Dr. Horrible.
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