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Fear the Boom and Bust: Keynes vs. Hayek - The Original Economics Rap Battle!

Radical Discourse 8 views

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Our team has been TOILING to deliver the best conversation starter on the immigration debate--BATTLE OF THE BORDERS--and it’s a brand new rap video brbr youtube/VS8SdwzlKCQbrbrIt’s been a while since we took the most contentious issue of our time and produced a radical rap battle with textbook-grade rhetoric but desperate times call for the return of discourse Radical Discourse! We’ve re-branded the (formerly EconStories) channel here as we gear up to continue producing more videos like this one on a range of topics that matter to us allbrbrClick the link, watch the video, and have at it in the comments We’ll be launching supporting interviews and new content, as well as all our supporting research, in the weeks and months ahead
Comment from : @RadicalDiscourse

hits even harder after we all experienced COVID/Bidenomics --> inflation
Comment from : @Rashnak66

Still watching in 2025 😂
Comment from : @jacobrempel1037

Economics didn’t run in my school this year but my friend and I wanted to take it next year so we started to aggressively advertise it to people, I have the Economics teacher for in my law class and today was the first day of semester 2 so I started law andhe walked up to me and said Economics is looking like it has great odds of going so I am very happy about this I love economics so much
Comment from : @persondahydrationman

2025?
Comment from : @martyalex

Thanks Mike Adams the health ranger
Comment from : @johnjohnb_online1438

Keynes is dead and we're living in his long run
Comment from : @awiseguydrinkingtea9735

I love that time has shown that the drunk makes less mistakes
Comment from : @cachorroaa

Keynes: “You laissez-faire people failed to stop the Depression and gave birth to socialism and world wars”
Comment from : @takotuboooo

well i just wanted to study economy growth theories Well I landed here again
Comment from : @raph6713

I put this song everytime there's a crypto dip
Comment from : @diegolatorre6793

Hayek would be proud of Milei
Comment from : @xx_pjlikesmusic_xx

TV Tropes linked me here
Comment from : @samschmit7181

Keynes - doctor of capitalism brHayek - avarage fan of capitalism brMarx - gravedigger of capitalism
Comment from : @IvanReznik-x9o

It's one of those quotes that unfortunately gets ripped out of context extremely unfavorably to Keynes - "in the long run we're all dead" The full quote is:br"The long run is a misleading guide to current affairs In the long run we are all dead Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again"brHe's criticizing economists who claim that we should just blindly ride out recessions because in the long run things should re-equilibriate Well, duh Of course it will, but how long must we wait, and how much real suffering must we endure in the meantime?
Comment from : @Musicrafter12

How's everyone liking my response to their wraps, cereal and pet food act of desperation🤷🏼👉🏼🐘⛑️🧑🏼‍🎤🐆🇺🇳⚖️🗽💻💻💻🔊🔊🔊🌏🌎🌍🌌🌌🌌🌌💹💹💹💹💹💹💹
Comment from : @Peter-ni2ql

1:05
Comment from : @emer2475

And finally Bitcoin has helped me realise the satiric point of this video, that Hayek was right
Comment from : @nkpags

In 2050 the same outcome will happen to Texas Too many people in one state everything goes up in prices
Comment from : @michaelnance8319

And Bitcoin will fix it all this sh1t
Comment from : @mefrlzrox

If you understand this music you know you to make money :)
Comment from : @JohnMaverick-w7c

경기침체로 유효수요를 통해서 과잉 공급을 해소하자는 케인스의 주장은 어리석다br가격이 자유로울때에 과잉공급이 일어나면 자유가격은 내려가면서 자생적으로 유효수요를 만들어낸다br일부러 정부가 나서서 재정지출을 통해서 인위적인 유효수요를 만들어내면 과잉 수요와 재정적자를 피할수 없다br가격이 자유로우면 과잉 공급과 과잉수요를 만들어내지 않는다br가격이 공급과 수요를 조절하기 때문이다br공급이 많으면 가격이 내려가면서 수요를 늘린다공급은 해소된다br수요가 많으면 가격은 오르면서 공급을 늘린다수요가 해소된다br자유 가격은 늘 과잉 공급과 과잉 수요를 적절히 조정한다br김도헌 올림
Comment from : @김도헌-o1k

시장의 목적br1시장의 목적은 교환과 교환을 통한 부의 창출에 있습니다br2시장은 자신이 가진 가치가 낮다고 생각하는 물건과 서비스를 남이 가진 자신이 가치가 높다고 생각하는 물건과 서비스와 교환하게 만드는데 목적이 있습니다br3그래서 시장은 부를 창출해 냅니다br4시장의 목적은 자신이 평소에 교환하고 싶어하던 다른 사람들과의 물건과 서비스를 한곳에 모아둔 곳입니다br5그래서 시장에 가면 시장성이 가장 높은 상품들을 모아두거나 저축해둘 필요없이 교환을 통해서 자신이 가진 물건과 서비스를 더 편리하게 교환 가능하도록 만들어 주는 목적이 있습니다br6그래서 시장은 교환과 거래를 통해서 교환 이전에 빈곤했던 자신과 교환 이후에 부유해진 자신을 발견하는 곳입니다br7시장에서 교환과 거래가 활발할수록 사람들은 더욱 더 풍요로워지고 부유해집니다br8시장의 목적은 소비자들을 위해서 봉사하는 곳입니다br9소비자들에게 더 품질 좋은 물건을 더 값싸게 더 빠르게 제공함으로 소비자들이 더 적은 돈으로 더 많은 양의 물건과 서비스를 더 품질 좋게 제공하는데 시장의 목적이 있습니다br10시장의 목적은 시장의 모든 개인들의 지식을 집합시키고 자신과 타인의 지식들을 조화시키며 이 지식들을 활용해서 경제 계산을 정확하게 해서 개인들의 지식을 활용해서 더 많은 지식들을 창조해 내는데 있습니다br11각 개인들의 재산권을 자유롭게 처분하고 사고 팔수 있게 하고 재산권을 통해서 개인들의 자유를 확장시키며 재산권을 교환해서 개인의 자유와 부를 확장시키는 것을 시장의 목적으로 볼수 있습니다br김도헌 올림brPS케인스의 주장처럼 시장을 규제하거나 조종하게 되면 시장은 더 이상 부와 자유를 확장시킬수 없으며 우리의 부와 자유를 훼손시키머 결국은 가난과 빈곤으로 곤두박질 칠것이다
Comment from : @김도헌-o1k

I can't believe this is over 14 years old now!
Comment from : @xMasterShake9x

We were presented by our Macroeconomics professor
Comment from : @Deepanwita_Tripathy

This is very clearly biased in favor of Hayek
Comment from : @Noone-fm5db

Time and Milei will prove Hayek right
Comment from : @matiasrisatti670

Everyone in the comments saying their econ teacher showed this to them Oh yeah? Well back in 2010, I showed this to my econ teacher Dude had Christmas in his eyes
Comment from : @JETZcorp

Here in Nov 2024 Hayek or Keynes it's not about who is right It's about who is right for current conditions
Comment from : @balynevil

Never gets old
Comment from : @fredrico21

I’m very sorry but Hayek ate thissssss
Comment from : @ifeoluwababalola2849

Freddie’s right … you knew that all along
Comment from : @TomBreese-tv4nw

I’ve never seen so many foreign subtitles on my television in my life
Comment from : @Badboyzfitness

This is a hilarious and educational masterpiece I rewatch it at least a couple of times a year
Comment from : @iquips2677

HAYEK WINS!!!
Comment from : @FF-xw8gs

Hayek was right
Comment from : @DennisSullivan-q2r

This was a very important video when it came out, during the height of the recession
Comment from : @prede89

Hayek > Keynes
Comment from : @mrg1758

Back many years later and after hearing "In our time" on Hayek I like it even better
Comment from : @ulalaFrugilega

Mises made Hayek's career
Comment from : @whoislu6n

Bank of international settlements vs Brics bank of development ---- NEXT RAP BATTLE
Comment from : @gamingcollection4448

Blimey Some really interesting stuff there
Comment from : @roberthutchinson5482

Here from PVK Epic, I remember this
Comment from : @nodakrome

The best video that has ever ben ever
Comment from : @airhead8188

🎋
Comment from : @LungteNangram

If you ever question how great Keynes was, you should notice that all of his contemporary colleagues (Austrians for example) are deadas well as their ideasKeynesian econ is alive and is now the frontier in modern Macro research, self-fulfilling prophecies, animal spirits, bubblesare all the most modern views to understand current econ issues, Keynes is still alive and kickingmoreover, in every global crises we invoke him and his ideasand most crises when not natural, are caused by the absence of adequate regulation The Greatest econ of all timeseven considering that he was a mathematician not an econ properly speaking
Comment from : @aldoramirezzamudio5515

This is incredible Hayek for the win!
Comment from : @Pau11Wa11

Team Keynes
Comment from : @Nobod7yyhgjod

brilliant
Comment from : @Wazowsky11

Keynes wins no question
Comment from : @Nobod7yyhgjod

Hayek's rapping takes a W, but history has given him nothing but L's
Comment from : @guyman9361

Today is the day of the bustbrThank you for the advice Hayek
Comment from : @WerexZenok

Keynesian economics is destroying us
Comment from : @arozelewis09

Hayek irrt on einem Punkt Wenn die Wirtschaft crasht, weil eine Blase Platzt, aus welchem Grund auch immer, ist der Wirschaftskreislauf zwischen Kondumrnten, Banken und Produzenten unterbrochen Da unmittelbar alle Beteiligten versuchen Ersparnisse zu erzeugen Dies führ zu einem nochstärkerem Rückgang der Wirtschaft und die Kriese verschärft sich Die Logische Konsequenz? Noch mehr sparen brEinzig die Zentralbank kann mit Kostenlisen Krediten an den Staat für Arbeitsbeschaffungs Maßnahmen eingreifenbrWenn das Bauunternehmen großaufträge kriegt, ist es gezwubgen Arbeitr einzustellen und Material zu kaufen Dies erzeugt Arbeitsplätze, due Wiederum andere Arbeitsplätze erzeugen Die Materialuen mpssen ja von irgendwem produziert werden Dueser braucht Rohstoffe, die Muss auch jemand AbbauenbrDer Gekdfluss ist wieder Hergestellt brBeide Blasen von 1928 und 2008 enstanden in den US und gingen auf die Säselbe Erwartung zurückbrNömlich ein Produkt zu kaufen um es später zu einem höherem Preis weiter zu verkaufen 1928 stellte sich jemand schließlich die Frage, ob der Markt nicht gesättigt ist, und die Produzenten seit jahren Absatzschwierigkeiten haben, und die Dividenden ausbleiben Die Aktienblase PlatzebrGantz ähnliches 2008 es gab mehr Häuser als Familien, die diese Mieten konnten Auch waren die Hauspreise überhitzt, es gab leerstehende Höuser, die keine Mieteinnahmen generierten und somit die Haushälte belasteten Als die Zibsen Stiegen, haben die Leerstehenden Häuser die Haushalte über Gebühr belastet, und Zwangsvollstreckungen nahmen zu Durch die hohen Zinsen brach die Nachfrage nsch Häusler zusammen Keiner konnte sich ein Haus mehr leisten, und der Preis brach zusammen Die Kredite waren zu Bündeln zusammen geschnürt worden, so dass ein Kreditausfall kein Problem war, schließlich konnte man das Haus Notfalls Zwangsvolstrecken und zu einem höherem Preis verkaufen Aber der Preis für Häuser kollabierte Es gab als Kreditausfälle, die durch Zwangsvolstreckungen nicht mehr behoben werden konnten Die Blase Platzte und der Geldkeislauf wurde unterbrochenbrJede Blase geht mit Erwartungen in die Zukunft einher Werden diese Erwartungen nicht erfüllt, platz sie brHayek will wörend eine Kriese Spasren und Während eines Booms invertieren Keans will während des Booms sparen und ihn abbremsen, damit er in der Kriese Investitionen tätigen kann brKeans Modell ist für Kriesenbeweltignug besser geeignet Aber beide gehen in einer Welt mit begrenzten Recourcen von unendlichem Wachstum aus Irgendwann ist ein weiteres Wachstum der Wirtschaft nichtmehr möglich Dann invsetuert der Staat nach Keans riesige Summen ohne Resultate im Wachstum
Comment from : @felixhoefflin9655

I heard about this from the Tom Woods show It was definitely worth the watch I’m going to make my son watch it
Comment from : @highontaiwan

Keynes is the biggest fraud in economic history…right after Marx
Comment from : @mrose4132

The argument breaking problem with the Austian school:brbrI know how much you'd like to live in a Hayek model of economy, but for that model to work, several geneartions have to sacrifice their livelihood and prosperity towards reaching economic equilibrium brbrAnd the generation that starts an Austrian model, gets the worst of it Are you truly willing to be that first generation? And why would any entire generation sacrifice themselves and thier families, for the sake of their non-existing descendants who live 100-300years into the future? Wouldn't it be fairer if we just split the burden?
Comment from : @sammysuri393

His name is HayekbrF A HayekbrWith an H
Comment from : @ThereCannotBeTwoSkies

2024 july 🇳🇵
Comment from : @sushildhakal4218

Très amusant… je suis en train de lire Hayek… Road to Serfdom
Comment from : @ericfrozen6422

So is her solution to a hangover to drink more liquor and stay drunk Inflation is when more money is pumped into the economy to chase the same amount of resources Raising prices are the effect of the inflated money supply not inflation itself
Comment from : @MrPloppy1

I was shown this video when I was in high school and I didn't really understand any of it at the time It's really cool rewatching every so often and being able to understand more of what they are saying as I learn more and more about economics
Comment from : @AlliYAFF

watched this back in may for a school assignment,, now i’m back because it’s shockingly catchy
Comment from : @anniej5688

And this is why the US government doesn’t win wars anymore they like to prolong them out to line their pockets while using our brave men and women
Comment from : @gordoncarpenter2709

Me being a first year econ student was rooting for keynesbrMe being after the econ degree is understanding Hayek was right
Comment from : @dolevmazker736

🔥👌
Comment from : @RawBeatsStudio

amnkoyum hangisini desteklicem kararsızım
Comment from : @kadirbalci

Like this video
Comment from : @sushildhakal4218

🙋‍♂️hi 🇳🇵
Comment from : @sushildhakal4218

🇳🇵
Comment from : @sushildhakal4218

Every time I didn't want to study AP Macroeconomics, I'd watch this video I got a 2 on the test, so maybe I should've studied more, but I'm sure the folks at Collegeboard enjoyed my drawing of Keynes with the caption "In the long run, we're all dead, but this test killed me"
Comment from : @anayaweick7964

Hayek>>>
Comment from : @investorbettor505

14 years after it was first uploaded and they still ate 😮‍💨
Comment from : @nadiafrsn4340

This was the only good part of economics class
Comment from : @iloveappleyoutube7198

2:57 "Keynes: My General Theory's made quite an impressionbrI transformed the econ professionbrYou know me, modesty, still I'm taking a bowbrSay it loud, say it proud, we're all Keynesians now"brbr3:53 "FA Hayek: Your focus on spending is pushing on threadbrIn the long run, my friend, it's your theory that's deadbrSo sorry there, buddy, if that sounds like invectivebrPrepared to get schooled in my Austrian perspective"
Comment from : @frejschmitz9200

This explains what happened in 2020 in so many ways
Comment from : @Mulerider4Life

I want this to be played at my funeral
Comment from : @dudeimperfect2867

This should be required to be viewed by everyone Loved this video when it was first uploaded brbrBack here in 2024
Comment from : @CharlieAligaen

Best video m day I watch this video before one day of semester exam
Comment from : @RahulYadav-vm9ui

Joseph Stglitz vs Milton Friedman
Comment from : @martincastellanos5498

Team Hayek since 1985! 🍳🍳🍳🍳🍳🍳🍳
Comment from : @katrinschiele8001

Even worked in Hazlitt's Broken Window Fallacy
Comment from : @jefffogel2686

Once you understand the context of the lyrics, this rap battle sounds harder than ever
Comment from : @tonyliu6457

Keynes was only a socialist in disguise
Comment from : @mephisto7549

Desde Uruguay un gran saludo!!, Y vamo arriba Hayek!!😂😂
Comment from : @canariotreintaytres8875

Looking back on this years later you see the inversion of reality regarding who was actually the establishment figure and who was portrayed as the outsider dissenting against orthodoxy
Comment from : @anathema2me4EVR

14 years later I return the more you learn about keynes, the more you find that his opposition to the bretton woods world order created during ww2, is the inspiration for this rapbrbrThey slander their opposition with false arguments
Comment from : @AnarchyEnsues

Listening to this on repeat to cram for a test
Comment from : @aforeman6965

One question open for all brIs Economics a science? Will it be called a "Real science" by purists?brOr is it an art of imagining and coordinating the fiscal exchanges of every single person on the planet vis a vis interpretation of indicators?
Comment from : @AnuragNair-mz5pk

Keynes: We are all keynessians now!brJavier Milei: Hold my beer
Comment from : @saintroyale2696

Learn Modern Economics in 7 mins
Comment from : @lakshminarasimmanv

Why did we choose an economic system that's designed to fail catastrophically every 5-7 years?brCapitalism is the great enemy to human flourishing
Comment from : @TerribleTom113

So, since everything here is kind of a reference to something, are the barkeeper names at 4:30 a reference to Ben Bernanke? and who could Tim be??? edit: researched this and damn they rly look like Ben Bernanke and Tim Geithner oo
Comment from : @mvhdsk1122

This is actually so good😭
Comment from : @ahnkyu1006

Hayek was right and Keynesians failed the World brbrTo be precise, people interpreting Keynes and his fans are to blame, but he provided a magical formula based on fake premises and the Western World is now paying with debt, government intervention in all areas, soaring prices for basic goods and the destruction of the middle classes, savings and pension funds
Comment from : @rodrigo445678