Posts in "Hayek v. Keynes"

colombiano972's picture
By Jose Nino at 9:39AM

The UN Still Doesn't Get It

The horrors of the North Korean totalitarian state are well documented. As expected, massive amounts of the North Korean populace are starving to death from years of brutal central-planning of the economy.

The most interesting nugget from this article was the UN's World Food Programme take on North Korea's plight:

North Korea faces its worst food shortage in a decade, with six million people at risk -- a consequence of poor economic management of its centrally planned system, a series of bad harvests caused by harsh winters, flooding and exhausted agricultural land, and the regime's unwillingness to spend its dwindling hard currency reserves on buying food for its 24 million people. 

As usual, the UN misses the mark. Ludwig Von Mises  and F.A Hayek both aptly pointed out decades ago that there is no such thing as a good centrally-planned economic system.  The problem isn't that the economy had "poor...management," but that it was managed at all.  Perhaps the UN could use a reminder of this excellent video:

Joseph Brown's picture
By Joseph Brown at 9:39AM

Keynes vs. Hayek Rap Battle Round 2

Round 2 of the Hayek vs. Keynes rap battle ("Fear the Boom and Bust") is finally here, thanks to John Papola and Russ Roberts!

Nick Leavens's picture
By Nick Leavens at 11:42AM

A breakdown of the "Fear the Boom and Bust" rap

You've undoubtedly seen the video already, but I've not seen anyone break down the rap into a 'Cliff Notes' version until now (and in an unlikely location, to say the least): VA Classical Liberal's diary on DailyKos.com.

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Matt Cockerill's picture
By Matt Cockerill at 6:22AM

Hayek v. Keynes Rap

Ridiculously awesome, or just ridiculous?

(H/T to Tom G. Palmer)