The Fight of the Century

by Russ Roberts on April 24, 2011

in Film, Music

The next rap video that John Papola and I have created, The Fight of the Century, should go live this Thursday. Keynes and Hayek debate whether government spending helps the economy recover.

We’re in the home stretch of editing and polishing. It has been an incredible creative journey. I’m very blessed to be able to work with John on a project with so many facets–the lyrics, the music, the visuals. To see it come together as a finished project is exhilarating.

I’m so excited to see what you in the audience out there think of it. Is it as good as the first one? Worse? Better? I have my own priors but that doesn’t matter. On Thursday, we’ll get feedback and find out what you think.

If you’re a teacher, this should make great end of the semester or end of the year viewing. Hope your students like it.

When it’s live on Thursday, I’ll post it here.

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Speedmaster April 24, 2011 at 8:22 pm

REALLY looking forward to this! ;-)

Scott G April 24, 2011 at 8:26 pm

What time on Thursday?

John Papola April 25, 2011 at 9:41 am

First thing in the morning, barring any last minute press scoops that wish for us to hold it back until their story (as was the case with NPR’s great Planet Money segment last time).

Scott G April 25, 2011 at 11:54 am

Knock him out Hayek!

Justin P April 24, 2011 at 8:33 pm

I can’t wait for it either!
When are the t-shirts coming out Russ?

Brian Puj April 24, 2011 at 9:30 pm

Just re-watched the first one. I love it so much. Brings me so much happiness, I can only hope that this one is up to the same standards.

will sankey April 24, 2011 at 10:03 pm

Excellent, I teach HS economics and US history, the video has been a student and parent favorite. Looking fwd to Thursday. Thank you sir!

Country Thinker April 24, 2011 at 11:48 pm

You’re doing great work. Thank you, and I look forward to seeing the new production. It’s all a system of information transfer, and information is good.

Greg Ransom April 24, 2011 at 11:54 pm

In a below productivity norm deflationary environment or a sticky wage situation e.g. post 1925 Britain, Hayek explicity agrees with Keynes that government spending policies can have some degree of role to play. And public works employment projects my be justified on independent moral grounds.

So how based in Hayek is the video?

BZ April 25, 2011 at 12:21 pm

Interesting. Do you have a citation I could go peruse and ponder?

Greg Ransom April 25, 2011 at 12:07 am

Hayek’s case against Keynes was grounded getting the science right — the problem with Keynes was the bad science.

Keynes supported his policy preferences with bad science — the issue wasn’t the policies, the issue for Hayek was the bad science. Hayek thought Keynes often had creative and even potentially useful policy ideas, e.g. for fighting pelowmproductivity norm npdeflation, or for funding WWII.

Greg Ransom April 25, 2011 at 12:08 am

Make that:

“fighting below productivity norm deflation”

Greg Ransom April 25, 2011 at 12:11 am

Bad science from Keynes produced bad policy advocacy — and bad reasons for policy, e.g. advocacy for “stimulating” demand as if the demand for short production time consumer goods was a demand for labor.

Daniel Kuehn April 25, 2011 at 6:33 am

I think you’re confusing “demand” with “consumption”.

Greg Ransom April 25, 2011 at 9:54 am

Consumption demand, of course.

Dan April 29, 2011 at 2:28 am

Underconsumption theory led to bad policy making. Let’s not repeat mistakes.

Greg Ransom April 25, 2011 at 12:30 am

What about the sacred relationship between teacher or student.

Or the sacred relationship between the teachers union and the school board?

indianajim April 25, 2011 at 10:50 am

Thanks for getting in out before most semesters conclude; I have classes Friday and hope it will serve as a punctuation mark !

John Papola April 25, 2011 at 9:10 pm

I’m happy to see this, Jim. It means that our late nights of editing for the past week in order to get it done by this thursday have not been in vain.

Michael E. Marotta April 25, 2011 at 5:15 pm

Definitely looking forward to this!

How do you rank the contenders? Keynes is a has-been looking for a comeback bout. I would like to see F.A. knock out Murray Rothbard.

I only recently read The Denationalisation of Money and reviewed it on my blog. I had accepted 100% gold backing for banking. Once I read the book, it was easy to draw on evidence that I know from numismatics in support of Hayek’s call for a truly open market in banking. In fact, Karl Marx identified gold as the best form of money as the result of cumulative social choice. That of course denies the reality of innovation and invention in monetary media, a line of inquiry not pursued by Rothbard and other gold bugs.

jcpederson April 25, 2011 at 6:48 pm


(rubbing my hands together – it probably won’t make the Oxford English Dictionary)

A. April 25, 2011 at 10:40 pm

I’ll be showing it to my students as well. If most people knew how excited I was to see the video, they’d think I was even weirder than they already do.

Dan April 29, 2011 at 2:31 am

I was giddy for several hours. If I had a portable device, I would have shown the clerk at the checkout of the grocery store.

PJ April 29, 2011 at 2:20 am

Its 1:10 AM and I keep playing it again and again and again…..second round…going down…..sadly just like what is going on at the real capitol&fed as QE2-to-N destroys the capital.

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