Monday, February 1, 2010

Mike Munger spotted

It just came to my attention that the limo driver at the 1:11 mark in the "Fear the Boom and Bust" econ rap video was none other than Mike Munger of Duke University and Kids Prefer Cheese fame.

Lyrics and a free mp3 are available here.

I've been enjoying this song for the past week, but I'm worried that it gives the impression that Hayek decidedly won the intellectual battle. While I am a fan of Hayek's work and policy recommendations, I also respect Keynes as an important economist. While I like Keynes progress in economic science more than his policy recommendations, it's no secret that his policy recommendations are alive and well today.

By going second and not having a Keynesian rebuttal, the song helps reinforce my existing bias that Keynesian solutions are flawed and should be avoided. I'll be interested to hear how modern Keynesians respond to the song.

Hayek himself claimed that Keynes planned to rework his positions and reel in his own supporters shortly before he died, as the two discussed over lunch six weeks before Keynes untimely death. Sadly, without verification such claims are not acceptable in scientific discussions. I still enjoy the story because it demonstrates that even though these two had fiercely combative philosophies and scientific views, they were able to meet together peacefully over a social lunch.

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