Watch the YouTube video called "Fear the Boom and Bust: Keynes vs Hayek". It is a rap economics video and only 7 1/2 minutes long. Write a one page memo summarizing the video and try to answer the questions:
What is the Boom and Bust cycle?Why is Keynes'General Theorybook in the nightstand drawer of Hayek's room?What do the bartenders and alcohol represent in terms of Monetary policy? (The one named Ben represents Ben Bernanke, the Fed chairman and the one named Tim represents Tim Geitner, Treasury Secretary, at the time)
How would you summarize this video?
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