(CBS) - How would legendary economists John Maynard Keynes and Friedrich Hayek react to the current state of the economy? And how would they fare in stating their differing opinions in a rap battle?
Those are the questions this amazing video entitled "Fight of the Century: Keynes vs. Hayek Round Two" asks and delivers with an answer of EPIC regardless of who you agree with more. Check it out!
The amazing and informative video was posted by EconStories which you can view more of HERE.
As they write about the true history of this battle between economic greats:
In "Fight of the Century", Keynes and Hayek weigh in on these central questions. Do we need more government spending or less? What's the evidence that government spending promotes prosperity in troubled times? Can war or natural disasters paradoxically be good for an economy in a slump? Should more spending come from the top down or from the bottom up? What are the ultimate sources of prosperity? Keynes and Hayek never agreed on the answers to these questions and they still don't.
What a truly innovative and cool approach to teaching economic principles and ideas!
If you like the video, I would also highly recommend catching their previous one included below: