Tuesday, January 26, 2010

Fear the Boom and Bust - an Economics Rap Video

When I first heard about this video, I thought it was going to be really lame. I imagined it was going to be like a bad Saturday Night Live skit where uncool white people try to look cool by rapping. It isn't as bad as I imagined. It is actually quite good. But what do I know, I am an uncool white person.

In Fear the Boom and Bust, two famous economists from the Great Depression years - John Maynard Keynes and F. A. Hayek - come back to life to attend an economics conference on the current economic crisis. Before the conference begins, and at the insistence of Keynes, they go out for a night on the town and rap about why there's a "boom and bust" cycle in modern economies and good reason to fear it.

Peace out

Addendum: Professor Roberts has developed a lesson plan for teachers. For instructions on how to get the lesson plan, click here.

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