I found it nailed the two theories, and several of the relevant criticisms Hayek had for Keynes, pretty well.
I think the intelligent economics undergrad, and the inquisitive grad student who is willing to think outside the narrow formalistic box constructed by the typical MA or PhD Econ program, will find it an inviting introduction to studying the theories themselves.
I’m surprised they left out the part where Hayek tells Keynes he can’t take 4 advil, drink a liter of Fiji, and eat a bowl of hot & sour soup, because the hangover will be good for him. Eventually.
It does a pretty good job of teaching the most important concept about analyzing any financial crisis: If you want to understand the bust, study the boom.
[...] This post was mentioned on Twitter by VixenRadio|HARLEMVIX, Mercatus Bloggers. Mercatus Bloggers said: The Volokh Conspiracy: Hayek v. Keynes Rap Video: – Russ Roberts explains the financial crisis via rap video. Copyr… http://ow.ly/16qQVr [...]
NR says:
Wow. That was painful.
January 26, 2010, 4:27 pmfatal in fact says:
That was high art.
January 26, 2010, 4:38 pmsardonic_sob says:
If the stars start going out, it’s because the purpose of the Universe was to produce this video, and it has now served that purpose.
January 26, 2010, 5:25 pmHayek v. Keynes : southernlawyer.net says:
[...] HT: The Volokh Conspiracy [...]
January 26, 2010, 5:38 pmliberty or death says:
I enjoyed it.
January 26, 2010, 6:18 pmHenry Hazlitt says:
If nothing else, this is proof that you can’t really explain economics well enough in just five minutes.
January 26, 2010, 8:21 pmGaltish bus driver says:
I found it nailed the two theories, and several of the relevant criticisms Hayek had for Keynes, pretty well.
I think the intelligent economics undergrad, and the inquisitive grad student who is willing to think outside the narrow formalistic box constructed by the typical MA or PhD Econ program, will find it an inviting introduction to studying the theories themselves.
January 26, 2010, 8:39 pmBenP says:
Best thing I’ve seen all day.
January 26, 2010, 8:56 pmTyWebb says:
I’m surprised they left out the part where Hayek tells Keynes he can’t take 4 advil, drink a liter of Fiji, and eat a bowl of hot & sour soup, because the hangover will be good for him. Eventually.
/thought it was hilarious
January 26, 2010, 9:19 pmPer Son says:
My life is now complete.
January 27, 2010, 1:37 amDavid Schwartz says:
It does a pretty good job of teaching the most important concept about analyzing any financial crisis: If you want to understand the bust, study the boom.
January 27, 2010, 8:09 amTweets that mention The Volokh Conspiracy » Blog Archive » Hayek v. Keynes Rap Video: -- Topsy.com says:
[...] This post was mentioned on Twitter by VixenRadio|HARLEMVIX, Mercatus Bloggers. Mercatus Bloggers said: The Volokh Conspiracy: Hayek v. Keynes Rap Video: – Russ Roberts explains the financial crisis via rap video. Copyr… http://ow.ly/16qQVr [...]
January 27, 2010, 11:18 amThe Volokh Conspiracy » Blog Archive » Prof. Glenn Reynolds (InstaPundit) Talks to Prof. Russ Roberts About His Hayek/Keynes Rap Video says:
[...] Zywicki blogged the original video here — here is Reynolds’ interview (simple free registration required). Categories: [...]
February 18, 2010, 9:47 amtroy emmins says:
you display the knowledge to pay for college
March 5, 2010, 6:26 am