Keynes vs. Hayek: An economic debate that rocks!

You actually learn a lot in this latest music video by John Papola and Russ Roberts - and it helps explain why Washington is in near-gridlock these days. John Maynard Keynes called for more government spending in times of stress, while Friedrich Hayek maintained that the marketplace would do a better job of sorting out downturns (essentially a laissez-faire kind of guy). In today's thinking, Hayek tends to edge out Keynes. But never mind that - economic theory is seldom this entertaining.