In the background of much of the debate over how policy makers should respond to the economic downturn have been the ideas of John Maynard Keynes and F.A. Hayek, two of the great economists of the 20th century.
Whether or not this is familiar to you, you definitely want to watch “Fear the Boom and Bust,” in which Keynes and Hayek face off in a hip hop battle. In the video, both economists come back to life to attend an economics conference on the economic crisis. Before the conference begins, and at the insistence of Lord Keynes, they go out for a night on the town and sing about why there’s a “boom and bust” cycle in modern economies and good reason to fear it.
It was put together by economist Russ Roberts and filmmaker John Papola from Econstories.TV.