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Keynes vs Hayek

Posted 6/9/2012 at 6:39:47 AM

spooner2112
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Reviews: 3


Quote:
Posted By: willywonka4u
...is that there's a shortfall in demand....

...then why not stimulate demand?

Here's a simple solution. Raise the fucking minimum wage!



"Stimulating" demand will make things worse, and raising the minimum wage is a terrible idea.

To understand the economic issues involved, here are a couple of very entertaining music videos which fairly present both the Keynesian and Austrian points of view. (Sounds strange, but they are really quite clever imo.)  :-)

Fear the Boom and Bust, a Hayek vs Keynes Rap Anthem:

http://www.youtube.com/watch?v=d0nERTFo-Sk

Fight of the Century: Keynes vs Hayek Round 2

http://www.youtube.com/watch?v=GTQnarzmTOc&feature=relmfu




 

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