I will try to fill in this post with a short explanation of the Austrian business cycle theory as some point. For now just enjoy this sweet rap video that explains it all better then I could anyway :P
PS: Here is a link to the people that made the video. Their cite contains some good background on these two economic giants including pod casts.
Wednesday, January 27, 2010
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Nicely done.
ReplyDeleteIt really all boils down to these lyrics:
Keynes: "savings is destruction"
Hayek: "real savings comes first if you want to invest"; "you must save to invest; don't use the printing press"