So Far Off Topic...
...It kind of reminds me of some of the discussions that Phritz and I have. For all the Econ geeks out there.
Labels: humor
posted by Toldain | 7:31 AM
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Hayek vs Keynes has been around for decades. So, we take a look at what has happened with the economy over that time, and it seems to me that whenever Keynesian attitude holds sway, we get loads of "irrational exuberance" in the marketplace that leads to huge debt and depressed economy, the Boom forces the Bust. And yet, people still think Keynes is right about how to treat the market. They hide after the disaster, denying all foresight and that common sense conclusions could have predicted the result.
Hayek, on the other hand, is perhaps TOO conservative on how to run an economy. He takes on faith that "if you build it, they will come" attitude regarding how an economy works.
So the argument for the past century has been, which one is right? But who out there has stood up and said, are EITHER right?
That was concentrated awesome. I'll forgive you for posting off-topic. ;)
Oh Phritz, Phritz, Phritz. *sigh*
I don't even think I can talk to you. I need to go collect sparklies to calm myself down. Deep breaths, deep breaths.
Relax, Milia, I got this. I had a chat with Phritz about this last weekend. The trouble is that Phritz has learned about Keynes from bankers. Oddly enough, most bankers don't really understand what money is. I think this is because they all have to make all their accounts balance, down to the last penny, every day, all day. This principle is beautifully illustrated by Pratchett's "Making Money".
Anyway, I hoped you liked the video.
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