How economics became interesting again…

April 16, 2011

EconStories.tv > what a concept!

I rate this Fear the Boom and Bust rap so much.  And I know I’m not the only one.  Being a historian, I’m really not a ‘quant nerd’, so this really helps break it down.

I’m really looking forward to the next installment which is being filmed at the moment.  However, I think that the portrayal of Hayek’s theory getting a raw deal isn’t a true reflection of current perceptions.  Especially as the Tories treat him as a saviour from the post-war economic decline.  Keith Joseph, his CPS & Margaret Thatcher infamously embraced monetarism and regularly quoted Hayek and Freidman.  It’s all the rage to bash Keynes: George Osborne frequently dubs Ed Balls a Keynesian, and reducing the deficit is the goal.  So I think this rap is probably more reflective of the perceptions in the US.

Also, can I just say the actors in this, the comedy rap duo Billy Scafuri & Adam Lustick of  Snakes,  are ones to watch. With or without the moustaches.

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