The second Keynes/Hayek rap video, “The Fight of the Century” just arrived. Like the first one, it focuses on the never ending debate between economists who want more government and those who believe in less. In this Econtalk discussion, the writers discuss their content decisions. And here, during a Marketplace segment, a briefer background description of the video is presented.
Also, you might enjoy looking at Merle Hazard’s songs which now include “The Greek Debt Song” and “Inflation or Deflation.”
Explaining interest rates in the U.S., this Paul Solman PBS report takes us to Zimbabwe, Japan and Merle Hazard.
Finally, here is the Freakonomics movie trailer with several economic insights.
The Economic Lesson
Perhaps economics need not be the dismal science as described by Thomas Carlyle in 1849.
An Economic Question: In “The Fight of the Century,” Hayek says, “We brought out the shovels and we’re still in a ditch… still digging, don’t you think it’s time for a switch…”
Saying the Great Recession ended in 2009, Keynes replies, ” I deserve credit. Things could have been worse. All the estimates prove it-I’ll quote chapter and verse.“