It says a lot about me that I’d actually buy this album.
I’d probably not listen to it very often – or even more than once – but I laughed at the lyrics. I understand why Econ Stories didn’t try to turn this one-trick pony of economic-themed Christmas carol parodies into a whole stable, of course. Sometimes short and sweet is best.
Yup. What we have here… is a failure… to communicate. Which is a definite pity, in its way: there really needs to be a good, accessible defense of current neo-Keynesian ec0nomic theory out there, if only to keep the Austrian school from running more amok than they, strictly speaking, deserve. Unfortunately, what we get instead are dull critiques by those who are: a, less creative than the people that provided the original argument (and who are being somewhat bitter about being less creative); and b, more interested in trying to score partisan political points than they are in actually doing a good critique in the first place. Put more simply: EconStories came up with something that people who don’t actually know much about economics can grok. The best that TNR could come up with were some drab arguments designed to keep at least some of the Keynesian faithful from lapsing into heresy.
(Via Instapundit) EconStories has another one of their extremely good Keynes v. Hayek videos up:
My only issue with this series is that it’s fairly obvious that the creators are fundamentally on Hayek’s side… and while they do (I think) a credible job of being fair to Keynes it would be helpful for the economic debate if there was somebody who was ready to as passionately, entertainingly, and creatively argue Keynesian theory on its own merits. Of course, there is some argument whether Keynes himself would be comfortable with some of the stuff done in his name these days…