We explore the economic philosophy of John Maynard Keynes. His ideas of government spending “priming the pump” during bad times have been applied by American leaders from FDR to Obama. But Keynsian theory continue to spark fierce debate – some feel it’s still the best way out of a slump – but others believe this distorts the free-market and that these ideas have run their course.
Guests
- Russ Roberts - Senior Scholar at the Mercatus Center, Economics professor at George Mason University and Co-creator of the popular Keynes v. Hayek rap videos.
- Jared Bernstein - Senior Fellow at the Center on Budget and Policy Priorities. He was a former White House economic advisor for the Obama administration and one of the architects of the stimulus.
Round 1 of the Rap video Kaynes vs. Hayek
http://youtu.be/d0nERTFo-Sk
Round 2 of the Rap video Kaynes vs. Hayek.
http://youtu.be/GTQnarzmTOc
