Keynes vs. Hayek, Round Two
For all of us who couldn't get enough of last year's sensation "Fear the Boom and Bust
" (the "Rapper's Delight" of economic theory hip-hop), producers John Papola and Russ Roberts have released the sequel, "Fight of the Century
." This one deals explicitly with the Keynesian fallacy that World War II ended the Depression: "Creating employment's a straigtforward craft / When the nation's at war, and there's a draft / If every worker was staffed in the army and fleet / We'd be at full employment with nothing to eat."
11:06 AM / April 28, 2011