Check out Supply & Demand: A Thug Story

Government interference with the pricing mechanism produces shortages which are resolved by non-price mechanisms: discrimination, waiting lines, rationing, black markets, or favoritism.  Markets messed up?  Look for government messing with price signals to find the cause.



Keynes and Hayek rap again.

As news reports indicate the Fed plans a half trillion dollar quantitative easing, it is a good time to revisit the Hayek and Keynes debate.  If you would like a rap explanation, check this out: “Fear the Boom and Bust”. Yes, Hayek presented in rap. has more where that came from.  For a debate between Hayek and Keynes in the 2010 context, check out another debate and rap.  It is the ‘Hayek and Keyes battle at The Economist’s Buttonwood Gathering’ selection.

The site also has a number of non-rap explanations on video.

Great stuff.  Explained simply.  In rap.

I’ve previously mentioned that freer countries are richer countries. See

What does freedom have to do with countries getting richer?

Russell Roberts offers a partial explanation in his book The Price of Everything – A Parable of Possibility and Prosperity