Sunday, May 1, 2011

Rap Music Knows No Bounds - From the NHS to Keynes and Hayek

NHS reform is not the only unlikely subject to have been addressed via the medium of rap music [does that make me sound enough like an out of touch Dad Yes? Good]. Before the MC NxtGen/Unison internet hit was accusing Andrew Lansley of being a "tosser" or a "grey haired manky codger" or having a face that looks like a "shrivelled up ball sack", an altogether more sophisticated attempt had been made at presenting an even heavier subject matter... namely the battle between the Hayek and Keynes schools (or should that be skools?) of thought.

This is "Round 2" I place this first as it's my favourite of the two.

The original rap, posted to YouTube in January 2010 long before
the NHS rap so many thought was so original.

I'm not a trained economist but I think Keynes is often misquoted and often used to justify (and often gets blamed for) economic management that has led to major problems both in the last century and today. These videos show Hayek smacking down every point Keynes makes, although Keynes always ends up looking like the winner. There's a lot of relevance in that today, with deficit deniers demonstrating on our streets for more spending on their special interest groups and talk of the need to maintain state spending to "support the economy". I'm sure Keynes would be rolling in his grave to be associated with much of this talk and to the actions that led us to the predicament we find our national budget in today. These videos probably do him a disservice, but they do illustrate today's big political and economic divide: between the top down, statist planners with their higher taxes and spending and the bottom up, empowering society and individuals with their lowering taxes and lower spending. 

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