is a Web site providing infotainment related to economics. So far, they've produced two 10-minute rap music video features.Fear the Boom and Bust
introduces the rivalry with John Maynard Keynes, the superstar, dragging the under-appreciated F.A. Hayek to a party the night before their presentation. In the first half of the rap, Keynes presents his economic model as the uptight Hayek looks on and is somewhat ignored. Hayek presents his response, which segues to the next morning with Keynes hung over from his economic binge.Fight of the Century
picks up with "round 2". Shots interchange between a Congressional hearing and a boxing match, both pitting Keynes and Hayek as adversaries. Hayek seems to win the boxing match but Keynes, presumably the reigning champion, is helped up by the referee and declared the winner.
More recently they began a series called Econpop
which uses movies and television to discuss economics.
This work contains examples of:
- Artistic License - Economics: Downplayed, but the second video shows Hayek winning the brawl but then losing popularity with the general public, however even mainstream economics largly discredits the Austrian school and it's considered highly heterodox among economists even today, with most mainstream conservatives tending towards the Chicago school (which has Keynesian influence too). Of course one could argue that they're also saying that nearly all mainstream economists are wrong too.
- Author Tract: Not as much in the first video, but the second video makes it very clear they side with Hayek. Note that this is somewhat odd as it would go against mainstream economics.
- Badass Boast: Keynes and Hayek each get one.
Keynes: Say it loud and say it proud. We're all Keynesians now.
Hayek: Prepare to get schooled in my Austrian perspective.
- Keynes again in Round Two.
Keynes: That's why I'm the master, that's why I'm the hero!
- Badass Mustache: Keynes and Hayek have magnificent ones.
- Bald of Awesome: Well, not completely bald, but Hayek fits.
- Boring, but Practical: Where Keynes lays out his model in digestible soundbites, Hayek has more trouble with this. In the first video, he's the designated driver while Keynes is the life of the party and the next morning, Keynes is stuck in bed hung over while Hayek is up, dressed and ready for business.
- Cool Versus Awesome: Government spending versus setting markets free debates doesn't seem to be epic until you listen to the music.
- Corrupt Corporate Executive: Hayek invokes this image in "Fight of the Century" with a bunch of fat businessmen in suits, smoking cigars and waving wads of cash around. The implicit argument is that government intervention won't work because the combination of politics and business mean government spending to business just ends up lining top-level pockets.
- Gambit Roulette: In the second video, Keynes keeps using metaphors related to fixing machines. Hayek counters that there is no machine.
Hayek:The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design
- Hair of the Dog: One way of how Hayek dismisses Keynesian approaches to economic downturns. "Your solution to bubble busts that came about because of government interference is more government interference via spending?"
- I Am the Trope: Keynes is the agenda.
- Mundane Made Awesome: Learning economics has never been as epic as this.
- No Fame, No Wealth, No Service: In both videos' pre-rap scenes, Keynes and Hayek both enter some establishment. Both times, Keynes is treated like a celebrity while Hayek is not recognized (the second one takes it further by having Hayek explain to a security guard how to pronounce his name like "high explosives" — he gets a cavity search for that). It mirrors the almost celebrity-like status of Keynesian models and approaches in academics and public discourse compared to the Austrian school of thought.
- Red Oni, Blue Oni: Hayek and Keynes go back and forth. Whether it's Keynes being cool about government spending and Hayek trying to loudly discredit it or Keynes being the life of the party and Hayek being the back seat driver.
- World War II: Keynes credits US government spending at this time for hauling the country out of the Great Depression. Hayek counters that rationed meat and butter can hardly be considered prosperity, and the economy grew faster after the war was over.