Monday, May 9, 2011

Keynes and Hayek rapping about the last century

Jim Ulvog is a friend, a fellow worshipper, and a blogger. I've referenced him at various times in my Empoprise-BI business blog, but have never done so in my Empoprise-MU music blog.

Until now.

Ulvog's recent post Rappin’ economists, round 2. Yes, rapping. Yes, round 2 links to an EconStories post entitled "Fight of the Century."

In one corner, you find John Maynard Keynes.

In the other corner, you find F. A. Hayek.

Their weapons? Rhymes. Here's one of the initial volleys from Keynes.

Are you kidding? my cure works perfectly fine…
have a look, the great recession ended back in ’09.
I deserve credit. Things would have been worse
All the estimates prove it—I’ll quote chapter and verse

Here's one of Hayek's responses, concerning World War II.

Wow. One data point and you’re jumping for joy
the Last time I checked, wars only destroy
There was no multiplier, consumption just shrank
As we used scarce resources for every new tank

Pretty perverse to call that prosperity
Rationed meat, Rationed butter… a life of austerity
When that war spending ended your friends cried disaster
yet the economy thrived and grew faster

But this isn't the only economic music on YouTube. Here's a love song to Hayek.

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