Fear of the boom and bust

And we wanted to try to do it in a visually compelling way to grab people's attention and entertain. What Hayek is discussing in the video is his own theory of the structure of production. The "grasping for resources reveals there's too few" and the boom turns to bust.

keynes vs hayek summary

Malinvestments wreck the economy The video is the brainchild of John Papola, a director and producer who was inspired by Ron Paul's campaign to start reading about the economy — downloading audio books and podcasts to read on his commute from New Jersey to New York City every day.

And, they're already working on their next video project, which is under tight, ahem, raps. Even the best strategies of the past fail, sometimes spectacularly, when you least expect it. That's a long and complex production structure for ideas, but it is precisely what is necessary to build a theory of this complexity that can be reduced to a rap video anyone can view and learn from.

RSS - Comments Disclaimer David Merkel is an investment professional, and like every investment professional, he makes mistakes.

He favors public works, war, and broken windows, warns against the liquidity trap, favors deficits, brags that he has changed the economics profession, and concludes, "Say it loud, say it proud, we're all Keynesians now!

Later came Mises's own improvements in his book Human Action.

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"Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem