Parliament, the EU, Keynes and Hayek

Last night in debate, Keynes and his disciples were invoked and rebutted in relation to EU economic surveillance. One Labour MP wanted to print the money we need…

Today, via The Cobden Centre, I find EconStories have followed up their superb Keynes vs Hayek rap, Fear the Boom and Bust, with Fight of the Century. From the video’s introduction:

Fight of the Century

According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. But we’re all uneasy. Job growth has been disappointing. The recovery seems fragile. Where should we head from here? Is that question even meaningful? Can the government steer the economy or have past attempts helped create the mess we’re still in.

John Maynard Keynes and F. A. Hayek never agreed on the answers to these questions and they still don’t. Let’s listen to the greats. See Keynes and Hayek throwing down in “Fight of the Century”.

Whether we like it or not, today’s big question is which one of these great economist’s schools is more helpful to society’s flourishing. Parliament’s business shows that Keynes’s ideas are being adopted by ever greater state structures. Unfortunately, the experience of our lives is that they are mistaken.

Here’s the video:

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Comments & Responses

One Response so far.

  1. Catherine in Athens says:

    Excellent! This shows what a clever teaching medium rap can be. Both videos should be compulsory viewing in all UK secondary schools.