2011 | Rap
Spotify | Amazon
“Creating employment is a straight forward craft when the nation’s at war and there’s a draft. -- If every worker were staffed in the army and fleet we’d have full employment and nothing to eat. -- Jobs are a means, not the end in themselves. -- People work to live better, to put food on the shelves. -- Real growth means production of what people demand. -- That’s entrepreneurship, not your central plan.”
- The song examines the impact of government spending on the economy and addresses the question of whether stimulus packages work.
- This video examines the two economists' responses to the Great Recession.
- Check out our page on Fear The Boom & Bust.
THE HOT TAKES
This song, man. During Ron Paul's 2012 run for President of the United States, this was fire. I still keep it on a few playlists and enjoy this one (and the video!) from time to time. A confession--I haven't read any Hayek. I've read loads of Mises, loads of Rothbard, but no Hayek. Call me what you will, but I am familiar enough with the ideas that Hayek brought to the table that I can get full enjoyment from this great track. I'll let the lyrics speak for themselves, but the ongoing debate between the ideas of Keynes versus those of the Austrian School goes to show how truly wise Mises was in his time. What do I mean by that? He went to great lengths to show how important a sound theory is for interpreting history. It is not enough to simply look at historical facts. They are innumerable, and only a theory provides a practical way to sort this data into useful subsets. Keynes picks what is useful in any given situation to make his case look the best. Hayek, Mises, and Rothbard look at the same figures at any point in history and provide sound, consistent theory to show it. We Austrians don't hide from data. Our answer is the same in all historical timeframes, and each new example makes our case stronger.
I think everyone reading this knows how tied to one another economics and freedom are. I also think that most people reading this who are at all familiar with Austrian economics will know that Hayek is easily superior to Keynes in most areas of economics, but just like in real life, Keynes wins in the end. Not because his theories were actually superior, but because a politician picked him. Pretty darn accurate. The politicians pick, and everyone else pays.
When you look at your initiation into liberty there's a collection of moments that stick out. I don't have a Giuliani moment like many libertarians these days. My official initiation was many years later but I can definitely trace the release of this video as a spark. Back in 2011 i was surrounded by leftists in the Cleveland arts scene. I was probably mostly apolitical with no knowledge or understanding of economics. I knew i hated war so i must be a leftie even if i was into personal responsibility. Thats just a quirk right Anyway, that summer i stumbled upon this video and a ron paul video on the college bubble. They resonated for a it then i went back to being apolitical for years. Apparently those sparks burned in me and sometime in 2015 they ignited as I watched the world falling prey to the two worst people I'd ever seen run for office against each other. Clearly the system wasn't broken it was just an evil system. Economics has a way of gestating like that is the moral of the story.