Keynes vs. Hayek: the rap version

File Under Optimism

I can’t believe I haven’t seen this brilliant video until now. Hayek vs Keynes on how to deal with boom and bust. In rap! Priceless. Bring on the limo, I’m in!

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The Morality Of Capitalism


In an op-ed piece for the Washington Post, Steven Pearlstein suggests that the nation is caught up in a historic debate over free-market capitalism and poses the question:  is capitalism moral? Pearlstein points out that over the last thirty years, the experiment with communism has been “thoroughly discredited,” and that a “billion people have been lifted from poverty through free-market competition.” But he also claims that we’ve recently seen a dark side of free markets, which for Pearlstein includes stagnation, inequality, financial crises, and 20-year-olds still living with their parents.

In praising capitalism, Pearlstein uses the phrase “free-market competition,” but when he describes the evils of capitalism, he uses the words “free markets.” Although Pearlstein doesn’t draw a distinction, these phrases are not interchangeable.  Markets can be free and at the same time non-competitive, such as monopoly. There are different forms of capitalism and what free-market advocates support is free-market competition (which is another way of describing decentralized economic power), not the consolidation of power that…

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Strategic Planning Is Vital to Long Term Business Growth