Since I was an Economics major at UT, I do believe that there is no such thing as a “market failure.” Only the failure of badly run companies with lots of political connections, bailed out at? taxpayer expense. That’s not a “market failure,” that’s standard government operating procedure. Market interventions always distort the market.
In “Fear the Boom and Bust,” John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on the economic crisis. Before the conference begins, and at the insistence of Lord Keynes, they go out for a night on the town and sing about why there’s a “boom and bust” cycle in modern economies and good reason to fear it.
\”Fear the Boom and Bust\” a Hayek vs. Keynes Rap Anthem
Get the full lyrics, story and free download of the song in high quality MP3 and AAC files at Econstories.
Twitter Comments
|
|
| Re-Tweet | Reply | View Tweet |
About Wendi