There’s something wonderful about the fact that a spoof rap video featuring two professors of economics should have attracted more than 2 million plays on Youtube. The video is American, but the two professors were British (one of them naturalised)- perhaps the world’s most important economists- Maynard Keynes and Friedrich von Hayek. Their theories were diametrically opposed and are amusingly portrayed in the video with each protagonist’s views being clearly and accurately presented. If the intention was to teach economics to the rap generation it has succeeded brilliantly. Needless to say, the underdog Hayek is given the best lines.
It’s said that Margaret Thatcher used to take a copy of Hayek’s “The Constitution of Liberty” into cabinet meetings and silence her colleagues by quoting from it. This story has always amused me because the last chapter of that great book is entitled “Why I’m Not a Conservative”. I don’t suppose David Cameron has read it, but if long books aren’t his style and rap videos are, he’d do well to look at this one.