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Keynes v. Hayek, The Second Round

Another great video from the Economics Department at George Mason University.

My favorite part is the brilliant take-down of the “Keynesism saved us during World War II” talking point. It’s impossible to say that it was a “joyous, economic time” during those days. You had reduced unemployment not because government was creating work; you had reduced unemployment because a war naturally reduced the young males in the labor force from one that was either working or out of work to one that was waging a war.

By the way, take a look at guy handing out the money in the cut scenes.  Can’t say the resemblance is only coincidental…

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  • Guest

    If I were you, I wouldn’t talk about things I didn’t understand.