- I Hate Rap... But This Is Cool

The thing I really love about this is that these guys are offering the actual representations being made by both sides - and it's not a bad song.

I particularly like that Hayek's arguments have Keynes on the ropes, but the media and the government proclaim Keynes the winner anyway, which is just like in real life. Why do they do that? Two reasons.

First, Keynes empowers the powerful. He gives more authority to politicians, and rent seeking hacks like Krugman who believe that all economic activity should be directed by commands issuing from Economists. I think the video makes that clear. But the second reason that they didn't mention in the video is the Keynesian endpoint. That's the moment when all the economic volatility has been sold short by Kenyesianism. When we have a problem after that, there will be no way to control it - no outside source to tap to force a correction. And since the government will already be deeply entangled in economic decision making, the economy will take much longer to respond than if it were allowed to operate unimpeded.

The result will be cataclysmic, even compared to what we've seen in the past. And pretty much everyone I know agrees that a point like that approaches rapidly. We may differ on when - but no one thinks we can go on like this forever. No one with any credibility anyway.