New Rap Video: Keynes and Hayek on the Boom Bust Cycle

If you can believe it, the modern incarnations of John Maynard Keynes and Friedrich A. Hayek defend their economic perspectives in a battle rap (of sorts). Here’s a highlight from Hayek:

“If you’re living high on that cheap credit hog
Don’t look for cure from the hair of the dog
Real savings come first if you want to invest
The market coordinates time with interest

“Your focus on spending is pushing on thread
In the long run, my friend, it’s your theory that’s dead
So sorry there, buddy, if that sounds like invective
Prepared to get schooled in my Austrian perspective”

See the extraordinary video below…

The Daily Reckoning