With the US and world economic situations teetering, the Keynesian and Austrian economic models have surfaced to take up the debate once again. Keynesian followers believe that the Great Depression-era economist John Maynard Keynes in thinking of the economy as a machine of sorts in constant need of fuel while the Austrian devotees follow economists like F.A. Hayek, a Nobel laureate who viewed the economy as more decentralized.
It all can be pretty dry and complicated but anyone can be brought up to speed with a basic understanding of both models in minutes by simply watching a fresh and lively music video in which Keynes and Hayek take each other on in an epic economics rap video that is fit for viewers of all ages.
The Fight of the Century video is actually the sequel to the pair’s highly successful “Fear the Boom and Bust”, displaying Keynes and Hayek as they battle it out at while appearing on stage at a economics conference.
Created by by EconStories, a non-profit collaboration between John Papola, former creative director at SpikeTV and Russell Roberts, an economics professor at George Mason University. Both videos boast stellar production nuances as they deliver hard hitting shots to their opponent’s economic theories.
Underdog F.A. Hayek appears to come out on top as his theories are becoming more accepted in light of today’s economic tribulations but Keynes isn’t going down quietly. Expect to hear more from these two heavyweights as their messages are relayed via the magnificent talents of the EconStories crew.
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