VIDEO: Hayek vs. Keynes Rap Battle Royale

[Valin]

The Heritage Foundation:

Kathryn Nix
4/29/11

It’s not Eminem or Dre, not East Coast or West. It’s economists Hayek and Keynes, and Congress can’t decide who gets it best. They’re battling it out on the mean streets of DC, to see who can fix the economy….

Sometimes, the best way to get a point across is to bust a rhyme, and the floors of Congress are no exception. This week, EconStories.tv released its new video, “Fight of the Century,” featuring economists John Maynard Keynes and Friedrich August Hayek bringing the heat during a congressional hearing.

Keynes, a British economist in the early half of the twentieth century, advocated government intervention, over-regulation, and spending to boost the economy. Hayek, an Austrian-born twentieth century economist, defended free-market capitalism against these assertions, arguing that the economy cannot be forced in one direction or another based upon basic algorithms.