“People aren’t chessmen you can move on a board.” Enjoy!
32 Replies to “Keynes Vs Hayek, Round 2”
Fantastic!
And yet, astoundingly sad. People keep listening to the Keynesians, and ignoring the Hayekians, the Austrian School, and all manner of voices in the wilderness…
Give me a dose of Milton Friedman any day.
Milton Friedman (1912-2006) – The Free Lunch Myth (7.08 minutes) http://www.youtube.com/watch?v=YmqoCHR14n8
“Government is the great fiction through which everybody endeavors to live at the expense of everybody else.”
Economist Frederick Bastiat (1801-1850)
Combine global GDP : 63 trillion USD.
Estimated debt in the global financial system: over 2 quadrillion USD and growing.
let’s bring on some more natural disasters!
As Keynes was pronounced the winner after being knocked down by Hayek, and counted out by the ref, I just thought that that is what may happen shortly after the election on Monday, if it results in a Conservative minority.
Layton or Ignatieff will have his arm victoriously raised as PM after being dutifully knocked to the canvas by Harper and the electorate.
It gets the message across to a certain demographic that wouldn’t be bothered to listen to economic ideas any other way I suppose.
Good production value.
Great video – be sure to see the link Patrick @ 11:23 recommends: the end of it is important.
Okay,let’s be fair. We’ll split the Country at the Manitoba/Ontario border,the Keynesians can have everything to the East, we’ll take the West.
Should work out just fine.
Best of luck to the new Coalition PM of Eastern Canada, Taliban Jack Layton.
Those “hopey-changey” economics don’t seem to be working out so well south of the border.
The gas pump / store shelf “sticky note” campaign is going VIRAL.
A primer: 10 Rules For Liberty Guerillas
Full Employment with nothing to eat….hmmm sounds like the old Soviet Union and Cuba, Zimbabwe etc….
Very good.
It has long been put about that FDR implemented Keynes ideas and ended the Great Depression…..he implemented those notions and deepened the depression…..The US and the world did not recover until WW2 ended.
One of the inconvenient truths suppressed is that Keynes’ lifestyle (funny-boy) influenced his views and theory—-he was unconcerned about how his policy affected succeeding generations for the simple fact that such folk, with that orientation, do not have progeny…
Accusations of homophobia in 3-2-1….
My challenge…spin that one without ad hominims.
Effing billiant
I’m young, I like hip hop, but there’s an inherent cheesiness in turning debates into rap songs.
I’m Older, and I like Hip Hop,
but I hate debates,
when you turn it into rap I will listen.
Obama needs to give us a rap song,
singing about the economy and war,
and what the hell its good for.
I’m with ya, dmorris at 3:22 PM
“To add historical perspective, we were all enmired in the incompetence that was Jimmy Carter back in the late 70s.”
From the comments at the link.
Unfortunately,there doesn’t appear to be a Ronald Reagan around to run against the current incumbent,the newly validated and vindicated non-Kenyan President Obama of Hawaii.
Bama Rap
–
Remember me,
I gave you Hopey-Changie,
I Won that freaking Nobel Peace Prize.
I know ‘I’m special,’
‘so special,’
Me, I,
You don’t matter-
Give me your retirement- social security on a platter.
14 trillion ain’t nothing,
just wait till I sell all that Fort Knox bullion.
Libya pissed me off,
I back attack.
Syria is next,
make no mistake.
War, I know what its good for.
Me and George Soros knows what best,
piss on all the rest.
homo-econimus?
I don’t think I’ve encountered a more tightly edited argument in favor of the Austrian school than in this, or the prior video.
I dream I could do better.
There was another flash “crash” today (bid side), FYI.
syncrodox-
I really hope you don’t trade for a living.
Especially the “softs”.
Like This: http://money.cnn.com/data/commodities/
I hate to use that link, but they’re all there and were “limit down”, which means there are NO BUYERS of those commodities, any more. Now, we will discover where they are, on the way down the price ladder. All the way to the bottom.
Pity what hot money can do to a commodities market, and it really is terrible when all those “investors” hit the exit door at the same time.
Never seen that before. Heh.
melinda
I trade but in a tangible service. I leave the intangibles to others but watch in awe.
Trading floor WAS where it was at, when it was.
Staring at a screen is sooo much cheaper. And all that comes with it.
Pity.
Later.
Take care.
Absolutely brilliant. Thanks for posting this.
dmorris @ 3:22, we can hope.
The weak minded think there is a free lunch.
Fantastic!
And yet, astoundingly sad. People keep listening to the Keynesians, and ignoring the Hayekians, the Austrian School, and all manner of voices in the wilderness…
Go to this video and forward to around 4:10 to hear of Keynes’ death-bed conversion:
http://www.youtube.com/watch?v=VqU-AZh-wqU
[Deleted. Off topic. – ED]
Mark @ 10:58: You stole my comment!
Awesome!
Give me a dose of Milton Friedman any day.
Milton Friedman (1912-2006) – The Free Lunch Myth (7.08 minutes)
http://www.youtube.com/watch?v=YmqoCHR14n8
“Government is the great fiction through which everybody endeavors to live at the expense of everybody else.”
Economist Frederick Bastiat (1801-1850)
Combine global GDP : 63 trillion USD.
Estimated debt in the global financial system: over 2 quadrillion USD and growing.
let’s bring on some more natural disasters!
As Keynes was pronounced the winner after being knocked down by Hayek, and counted out by the ref, I just thought that that is what may happen shortly after the election on Monday, if it results in a Conservative minority.
Layton or Ignatieff will have his arm victoriously raised as PM after being dutifully knocked to the canvas by Harper and the electorate.
It gets the message across to a certain demographic that wouldn’t be bothered to listen to economic ideas any other way I suppose.
Good production value.
Great video – be sure to see the link Patrick @ 11:23 recommends: the end of it is important.
Okay,let’s be fair. We’ll split the Country at the Manitoba/Ontario border,the Keynesians can have everything to the East, we’ll take the West.
Should work out just fine.
Best of luck to the new Coalition PM of Eastern Canada, Taliban Jack Layton.
Those “hopey-changey” economics don’t seem to be working out so well south of the border.
The gas pump / store shelf “sticky note” campaign is going VIRAL.
A primer:
10 Rules For Liberty Guerillas
Full Employment with nothing to eat….hmmm sounds like the old Soviet Union and Cuba, Zimbabwe etc….
Very good.
It has long been put about that FDR implemented Keynes ideas and ended the Great Depression…..he implemented those notions and deepened the depression…..The US and the world did not recover until WW2 ended.
One of the inconvenient truths suppressed is that Keynes’ lifestyle (funny-boy) influenced his views and theory—-he was unconcerned about how his policy affected succeeding generations for the simple fact that such folk, with that orientation, do not have progeny…
Accusations of homophobia in 3-2-1….
My challenge…spin that one without ad hominims.
Effing billiant
I’m Older, and I like Hip Hop,
but I hate debates,
when you turn it into rap I will listen.
Obama needs to give us a rap song,
singing about the economy and war,
and what the hell its good for.
I’m with ya, dmorris at 3:22 PM
“To add historical perspective, we were all enmired in the incompetence that was Jimmy Carter back in the late 70s.”
From the comments at the link.
Unfortunately,there doesn’t appear to be a Ronald Reagan around to run against the current incumbent,the newly validated and vindicated non-Kenyan President Obama of Hawaii.
Bama Rap
–
Remember me,
I gave you Hopey-Changie,
I Won that freaking Nobel Peace Prize.
I know ‘I’m special,’
‘so special,’
Me, I,
You don’t matter-
Give me your retirement- social security on a platter.
14 trillion ain’t nothing,
just wait till I sell all that Fort Knox bullion.
Libya pissed me off,
I back attack.
Syria is next,
make no mistake.
War, I know what its good for.
Me and George Soros knows what best,
piss on all the rest.
homo-econimus?
I don’t think I’ve encountered a more tightly edited argument in favor of the Austrian school than in this, or the prior video.
I dream I could do better.
There was another flash “crash” today (bid side), FYI.
Melinda…it’s probably nothing…
That “crash” would be here: http://www.zerohedge.com/article/what-130-million-busted-trades-looks
Yes, they do it to the upside as well.
so…like both ends against the middle?
syncrodox-
I really hope you don’t trade for a living.
Especially the “softs”.
Like This: http://money.cnn.com/data/commodities/
I hate to use that link, but they’re all there and were “limit down”, which means there are NO BUYERS of those commodities, any more. Now, we will discover where they are, on the way down the price ladder. All the way to the bottom.
Pity what hot money can do to a commodities market, and it really is terrible when all those “investors” hit the exit door at the same time.
Never seen that before. Heh.
melinda
I trade but in a tangible service. I leave the intangibles to others but watch in awe.
Trading floor WAS where it was at, when it was.
Staring at a screen is sooo much cheaper. And all that comes with it.
Pity.
Later.
Take care.
Absolutely brilliant. Thanks for posting this.
dmorris @ 3:22, we can hope.
The weak minded think there is a free lunch.
love it