[lbo-talk] lbo-talk: Fear the Boom and Bust, a Hayek vs. Keynes Rap Anthem

D. T. Cochrane dtc at yorku.ca
Sun Feb 14 08:21:48 PST 2010


It was pretty entertaining. I would have more respect for the Hayekian line if they would have been claiming that corporate capitalism is not the same as 'free markets' before the breakdown. Contrary to the images of the video, it was the Austrians who likely found themselves wined and dined by capitalists; 'useful idiots,' I believe is the term.

-t-

On Tue, Feb 2, 2010 at 9:01 AM, Aaron Stark <aaronsta at gmail.com> wrote:


> "Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem
> http://www.youtube.com/watch?v=d0nERTFo-Sk
> For a transcript, see the bottom of the page here -
> http://econstories.tv/home.html .
>
> This is another data point for the discussion from a few months ago
> about the growing popularity of right-libertarian ideas in the U.S..
> Right-libertarians seem to be getting some political traction by
> claiming, as in this video, to be the underdogs, the beleaguered few
> whose ideas have never been tried and would solve the economic crisis
> if they were tried. Given the format, I'm guessing this is targeted
> towards youth and the youngish "creative class" -- I learned about it
> from internet sociologist danah boyd's favorable retweet
> http://twitter.com/zephoria .
>
> The video was produced by John Papola and Russell Roberts . Roberts is
> a professor of Economics at George Mason University, and Papola is
> some TV/marketing guy. Both, according to the About page
> (http://econstories.tv/about.html) are apparently right-libertarian.
> The video is framed as a "debate", but of course Hayek, presented here
> as anti-stimulus, gets the final word.
>
> Luckily, it's pretty awful hip-hop.
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>

-- Henry Ford told a visitor to the Ford Motor Company that there were exactly 4,719 parts in a finished car.

Impressed, the visitor asked the supervising engineer if the number was accurate.

“I’m sure I don’t know,” said the engineer. “I can’t think of a more useless piece of information.”



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