Thursday, April 28, 2011

Economics 301 - Keynes vs. Hayek Rap - Part 2

As many you know, when it comes to economics I've always been a Hayek guy, so here's the next brilliant installment in the Keynes vs. Hayek Rap. Watch it, and learn:



Because you can't really learn economics from a college course. And for those of you that might have missed it, Part #1.

4 comments:

Draw2much said...

This... this.. was really COOL. I loved economics in highschool. One of my favorite subjects actually (it just goes to show it's how it's taught that matters not the material itself). Thanks for passing on the links! :D

rossalthor said...

All I know is that my business has never been worse.

In any case, Hayek was definitely wearing the nicer suit.

Robert said...

At 80 Yen to the Dollar our import business is all but dead in the water. I can't wait to try to make it work a year or two from now when the Yen is trading at 55 and new PVC's will average $200 each. Then when people ask us why aren't we picking up this new item or that new item, I can point them right to Bloomberg's FX page. -_^

rossalthor said...

Forget $200 figures, you'd have $40,000 Accords and $20,000 R6s. It would crush Japan's heavy industy. I'd be shocked if the world allowed the USD-JPY to get to 55. The G7 central banks had a unilateral intervention immediatly once the yen got to like 75 right after the quake.

Even if America decides to remove their endorsment to an intervention to take advantage of any prospective domestic industry gains that would need to be filled from lost Japanese imports, a big part of the G7 would still be dependant enough on Japanese imports to keep the yen low enough to be manageable.

It's at least good to hear that you think the cornerstore will be around for a couple of more years. That's way better than I can say. =(