With already more than 500,000 views, the "Fear the Boom and Bust" video starring John Maynard Keynes and Friedrich Hayek is not exactly news. Still, in case you missed it, I've posted it below.
At a Hoover Institution Media Colloquium held on Monday at Stanford University, I met the co-creator, George Mason University economist extraordinaire Russ Roberts. Originally Roberts had envisioned a sitcom in which Keynes came back from the dead as a struggling assistant professor "or maybe a high school economics teacher." He then scaled back this vision to the opening scene of the sitcom, complete with theme song and even a Mary Tyler Moore toss-your-hat-in-the-air moment. But what he ultimately ended up with was an ingenious video, with the help of John Papola, that has now gone viral.
On the one hand, Roberts is astounded that after all this time, "Keynes is back!" And yet, says the economist, "I'd like to see and hear more about [Friedrich Hayek's] views, which I think are deep and important." And what better way for students to tune in to this debate than through a rap video? (Yes, I know how pathetic that sounds. But it probably would have helped me improve my C average in economics. Instead I seem to have been captured by those "animal spirits.")
Finally, in case you are wondering, Hayek and Keynes and the fine ladies are all professional actors. The bar scenes were filmed at Trinity Place on Broadway. And the safe was in the bar. Also, be sure to check out econstories.tv, where you can learn more about Keynes vs. Hayek.