Austrian Economics vs. Keynesian Economics: A Rap
This catchy rap is also informative! I was going to write a blog article explaining the lyrics but then I found out that I was beat to it by “VA Classical Liberal” at the Daily Kos (and to be honest, he or she probably did a better job than I would have). This debate has never been more important with countries all around the world following Keynesian policies to try and get out of their economic mess and yet very few people have even a basic understanding of the economic arguments against these policies. Most people have some basic idea of Keynes theory, but if their introduction to it was anything like mine, it was treated more like gospel than a theory. I would highly recommend taking 15 minutes and reading over the blog post on Daily Kos and getting a brief taste of Austrian Business Cycle Theory.