In early 2010, economist Russ Roberts (George Mason University) and former MTV, Nickelodeon and SpikeTV producer, John Papola, released a rap video highlighting the differences between Keynesian & Austrian School economic theories called “Fear the Boom & Bust: A Hayek vs. Keynes Rap Anthem”.
As bizarre as it may seem to some, the professionally made video blew up on YouTube and now boasts over 2,050,000 views, possibly making it the most popular music video with an economics theme ever made.
See that video below:
But now, Papola and Roberts are hoping to top their previous success with a brand new music video “sequel” to their debut effort.
This time, Messrs. Hayek & Keynes get called into the halls of Congress to testify on economic policy. John Maynard Keynes (played by Billy Scafuri), like the Obama administration, claims that the recession is over thanks to his theories and that without the boost in aggregate demand created by hundreds of billions of dollars in government stimulus packages, the country might have spiraled into a second Great Depression.
Frederich August von Hayek (played by Adam Lustick) disagrees and the Congressional chamber turns into a boxing ring with the Committee Chairman (Richard J. Murphy) as referee and R&B bridge singer.
See what happens here:
On the surface, these videos might seem like they could only be interesting to political or economic wonks, but Russ Roberts’ and veteran TV producer John Papola’s witty lyrics, creativity and directorial vision bring the goods to make both videos entertaining and appealing to much wider audiences.
For more, check out www.econstories.tv and www.emergentorder.com