Economics Rap Keynes versus Hayek – Entertainment & Education

You have to watch this for the entertainment factor.  However there is an underlying lesson of the opposing sides in the economics debate.  Interventionist economics with the associated stimulus and demand driven economic thrust which dragged the west out of the depression was led by Keynesian thought, versus Hayek’s prospectus proffered by Margaret Thatcher which dragged Britain out of the 1970’s gloom into the modern world.  This video is funny, educational and really cool, at least for us stock market buffs.

One thing is for sure the direction of the market, as highlighted in my forthcoming book and training course, is dictated by the business climate, which is dictated by the economic principles practiced during the era.  The modern era of the west is driven by Keynsian economics, which leads to boom and bust.  But who is to say the Heyekan prospectus would yield riper fruit.  The day when economists agree and find the right path will be the day hell freezes over.  One thing is for sure, the power and wealth of nations is dictated by the success of the economies that drive them.

Boom and bust details are highlighted in a previous post. Boom and Bust

Good night.

All credit to the folks at http://econstories.tv for a top video.

p.s. Keynes was British not American and Hayek was Austrian.

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