Greed (or self-interest) is a natural and important human trait in achieving our goals
and an essential aspect of the free market. Milton Friedman explains in this great video clip
why greed is important in improving the overall wellfare for society.
Have a look:
Posts mit dem Label economics werden angezeigt. Alle Posts anzeigen
Posts mit dem Label economics werden angezeigt. Alle Posts anzeigen
Sonntag, 26. Februar 2012
Donnerstag, 16. Februar 2012
#2 Keynes vs. Hayek - Song
The battle between Keynsians and Austrians continues ... in the following music video:
Mittwoch, 15. Februar 2012
Keynes vs. Hayek – Rap song
In the early and mid-20th century, John Maynard Keynes’ economic theory was the predominant school of thought to explain economic behavior. Advocating government interventions and financial stimuli in order to avoid economic downturn, Keynesianism became very popular by politicians and many economists. While Hayek and his concepts were nearly forgotten in this time, Austrian School economics became more visible through the prudent economic policy of politicians such as Margret Thatcher in the UK and Ronald Reagan in America (who was influenced by Milton Friedman).
The following rap song is dealing with the struggle of both economists and the success of their theories:
The following rap song is dealing with the struggle of both economists and the success of their theories:
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