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作曲 : John Papola |
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John Maynard Keynes |
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F.A. Hayek F·A· |
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Round 2 rap |
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Round 2.0 2.0 |
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Same economists |
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Same beliefs |
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New microphones |
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New moustaches |
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Here we are, peace out great recession |
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Thanks to me, as you see, we are not in a depression |
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Recovery, destiny, if you follow my lesson |
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Lord Keynes, here I come, line up for your procession |
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We brought out shovels but we are still in a ditch |
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And still digging, don’t you think it’s time for a switch? |
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From that hair of the dog, friend the party is over |
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The long run is here, it’s time to get sober |
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Are you kidding? My cure works perfectly fine |
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Have a look the Great Recession ended back in 09 |
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I deserve credits, things would have been worse |
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All the estimates prove that and I’ll quote chapter and verse |
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The econometricians, they are ever so pious |
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Are they doing real science or confirming their bias? |
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Their Keynesian models are tidy and neat |
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But that top-down approach is a fatal conceit |
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Which way should we choose? |
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More bottom-up or more top-down? |
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The fight continues |
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Keynes and Hayek’s second round |
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It’s time to weigh in |
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More from the top or from the ground |
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Let’s listen to the greats |
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Keynes and Hayek throwing down |
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We could have done better had we only spent more |
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Too bad, that only happens when there’s a world war |
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You can carp all you want about stats and regression |
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Do you deny World War II cut short the Depression? |
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Wow, one data point and you are jumping for joy, |
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The last time I checked wars only destroy |
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There was no multiplier, consumption just shrank |
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‘Cause we use scarce resources for every new tank |
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Pretty perverse to call that prosperity |
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Rationed meat, rationed butter, a life of austerity |
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When that war spending ended your friends cried disaster |
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Yet the economy thrived and grew faster |
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You too, only see what you want to see |
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The spending on war clearly goosed GDP |
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Unemployment was over, almost down to zero |
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That’s why I’m the master, that’s why I’m the hero |
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Creating employment is a straightforward craft |
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When the nation’s at war, and there’s a draft |
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If every worker was staffed in the army and fleet |
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We’d have full employment, and nothing to eat |
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Which way should we choose? |
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More bottom-up or more top-down? |
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The fight continues |
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Keynes and Hayek’s second round |
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It’s time to weigh in |
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More from the top or from the ground |
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Let’s listen to the greats |
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Keynes and Hayek throwing down |
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Jobs are the means, not the ends themselves, |
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People work to live better, to put food on their shelves |
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Real growth means production of what people demand |
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That’s entrepreneurship, not your central plan |
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My solution is simple, and easy to handle |
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It’s spending that matters, why’s that such a scandal? |
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Money sloshes through the pipes and the sluices |
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Revitalising the economy’s juices |
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It’s just like an engine that’s stalled and gone dark |
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To bring it to life, we need a quick spark |
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Spending is the life blood that gets the flow going |
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Where it goes? Doesn’t matter |
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Just get spending flowing |
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You see slack in some sectors as a “general glut” |
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But some sectors are healthy only some are in a rut |
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So spending is not free, that’s the heart of the matter |
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Too much is wasted as cronies get fatter |
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The economy’s not a car, there’s no engine to stall |
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No expert can fix it, there’s no “it” at all |
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The economy’s us, we don’t need a mechanic |
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Put away the wrenches, the economy’s organic! |
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Which way should we choose? |
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More bottom-up or more top-down? |
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The fight continues |
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Keynes and Hayek’s second round |
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It’s time to weigh in |
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More from the top or from the ground |
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Let’s listen to the greats |
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Keynes and Hayek throwing down |
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So what would you do to help those unemployed |
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This is the question you seem to avoid |
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When we are in a mess, would you have us just wait |
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Doing nothing, until market equilibrates? |
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I don’t want to do nothing, there’s plenty to do |
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The question I ponder is who plans for whom |
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Do I plan for myself, or leave it to you |
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I want plans by the many, not by the few |
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Let’s not repeat what created our troubles |
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I want real growth, not a series of bubbles |
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Stop bailing out losers, let prices work |
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If we don’t try to steer them, they won’t go berserk! |
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Come on, are you kidding, don’t Wall Street’s gyrations? |
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Challenge your world view of self-regulation? |
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Even you must admit the lesson we’ve learnt is more oversight’s needed or else we’ll get burnt |
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Oversight? The government’s long been in bed |
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With the Wall Street execs and the firms that they bled |
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Capitalism is about profit and loss |
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If you bail out losers there’s no end to the cost |
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The lesson I’ve learnt is how little we know |
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The world is complex, not some circular flow |
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The economy is not a class you can master in college |
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To think otherwise is the pretence of knowledge |
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Which way should we choose? |
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More bottom-up or more top-down? |
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The fight continues |
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Keynes and Hayek’s second round |
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It’s time to weigh in |
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More from the top or from the ground |
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Let’s listen to the greats |
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Keynes and Hayek throwing down |
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You get on your high horse and you’re off to the races |
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I look at the world on a case-by-case basis |
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When people are suffering, I roll up my sleeves |
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And do what I can to cure our disease |
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The future’s uncertain, our outlooks are frail |
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That’s why free markets are so prone to fail |
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In a volatile world, we need more discretion |
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So state intervention can counter depression |
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People aren’t chessmen you can move on a board at your whim |
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Their dreams and desires ignored |
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With political incentives, discretion’s a joke |
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Those dials you are twisting are just mirrors and smoke |
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We need stable rules and real market prices |
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So prosperity emerges and cut short the crisis |
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Give us a chance so we can discover the most valuable ways to serve one another |
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Which way should we choose? |
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More bottom-up or more top-down? |
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The fight continues |
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Keynes and Hayek’s second round |
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It’s time to weigh in |
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More from the top or from the ground |
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Let’s listen to the greats |
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Keynes and Hayek throwing down |
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Which way should we choose? |
| [06:50.999] |
More bottom-up or more top-down? |
| [06:52.999] |
The fight continues |
| [06:55.999] |
Keynes and Hayek’s second round |
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It’s time to weigh in |
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More from the top or from the ground |
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Let’s listen to the greats |
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Keynes and Hayek throwing down |
