Most people have no idea what ideas inform our economy, or even that certain schools of thought do inform our economy. For most of the last century, American policy makers have largely followed one of two men, either John Maynard Keynes or Friedrich August von Hayek, and yet most people have never heard of either man, nor could they articulate in cohesive manner what either believed. In my humble yet persistent effort to bring such information to the masses, particularly to the yutes’ that are hardly schooled in such concepts at all even through college, I present a brief primer produced by director John Papola and creative economist Russ Roberts on modern economics in an approachable and popular form – the rap:
For those who can’t follow rap, lyrics are here, and the an interesting story of how the video was produced here. Obviously I tend to agree with Hayek when it comes to policy proscriptions – and our current economic disaster has only re-enforced my reasons for that.
*Warning: The above video is contains graphic content of early 20th century economists dancing and rapping – this video is not for small children, please use discretion*