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“That credit crunch ain’t a liquidity trap, just a broke banking system, I’m done – that’s a rap.”

January 26th, 2010 Posted in Economics by

Back on my now-virtually-dormant blog, I posted a rap video from across the pond to mark the start of the US stimulus package, kicked off by the legendary George W. Bush.

Now that we’re further in these stimulus attempts, I’m delighted to bring you a follow-up, to aid your understanding of the ideological Keynes v Hayek battle.

Enjoy…

3 Responses to ““That credit crunch ain’t a liquidity trap, just a broke banking system, I’m done – that’s a rap.””

  1. Judith Says:

    I’m so glad you’ve given me a chance to understand economics at last. Now it’s all as clear as … erm, don’t really know.


  2. Sara Scarlett Says:

    Judith, if that comment isn’t entirely facetious then may I recommend this book: http://www.amazon.co.uk/Best-Book-Market-Worrying-Economy/dp/1906465053/ref=sr_1_4?ie=UTF8&s=books&qid=1264534438&sr=8-4

    Does what it says on the tin.

    Rgds.


  3. Tom Papworth Says:

    Actually, Sara, I would take Judith at face value. Economics is many things, but simple it is not. The way it has been presented to the public (“If private spending falls public spending must rise or who’s going to do all the spending?”) isn’t so much Economics 101 as Economics 0.1.

    BTW. Is Eamonn’s book any good? I haven’t read it.

    Judith, as regards Hayek’s critique of Keynes, Hayek sadly never wrote a single, definitive work but his various papers were later collected in A Tiger by the Tail, which is free to download.


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