Desta vez, com participação especial de Ben Bernanke. Sensacional!
4 comentários:
Degauss
disse...
Como nem todo mundo tem o ouvido sensível do Ronald para o inglês, reproduzo abaixo, para quem tem dificuldades, a letra do RAP. Como é muito grande para um único post, enviou em duas partes.
Parte 1
“Fight of the Century” Lyrics. Written by John Papola and Russ Roberts
KEYNES Here we are… peace out! great recession thanks to me, as you see, we’re not in a depression Recovery, destiny if you follow my lesson Lord Keynes, here I come, line up for the procession
HAYEK We brought out the shovels and we’re still in a ditch… And still digging. don’t you think that it’s time for a switch… From that hair of the dog. Friend, the party is over. The long run is here. It’s time to get sober!
KEYNES Are you kidding? my cure works perfectly fine… have a look, the great recession ended back in ’09. I deserve credit. Things would have been worse All the estimates prove it—I’ll quote chapter and verse
HAYEK Econometricians, they’re ever so pious Are they doing real science or confirming their bias? Their “Keynesian” models are tidy and neat But that top down approach is a fatal conceit
REFRAIN Which way should we choose? more bottom up or more top down …the fight continues… Keynes and Hayek’s second round it’s time to weigh in… more from the top or from the ground …lets listen to the greats Keynes and Hayek throwing down
KEYNES We could have done better, had we only spent more Too bad that only happens when there’s a World War You can carp all you want about stats and regression Do you deny World War II cut short the Depression?
HAYEK Wow. One data point and you’re jumping for joy the Last time I checked, wars only destroy There was no multiplier, consumption just shrank As we used scarce resources for every new tank Pretty perverse to call that prosperity Rationed meat, Rationed butter… a life of austerity When that war spending ended your friends cried disaster yet the economy thrived and grew faster KEYNES You too only see what you want to see The spending on war clearly goosed GDP Unemployment was over, almost down to zero That’s why I’m the master, that’s why I’m the hero
HAYEK Creating employment’s a straightforward craft When the nation’s at war, and there’s a draft If every worker was staffed in the army and fleet We’d have full employment and nothing to eat
REFRAIN REPEATS
HAYEK jobs are a means, not the ends in themselves people work to live better, to put food on the shelves real growth means production of what people demand That’s entrepreneurship not your central plan
Fechando o posto anterior, aqui vai a segunda parte do RAP
PArte 2
KEYNES My solution is simple and easy to handle.. its spending that matters, why’s that such a scandal? The money sloshes through the pipes and the sluices revitalizing the economy’s juices it’s just like an engine that’s stalled and gone dark To bring it to life, we need a quick spark Spending’s the life blood that gets the flow going Where it goes doesn’t matter, just get spending flowing
HAYEK You see slack in some sectors as a “general glut” But some sectors are healthy, only some in a rut So spending’s not free – that’s the heart of the matter too much is wasted as cronies get fatter. The economy’s not a car, there’s no engine to stall no expert can fix it, there’s no “it” at all. The economy’s us, we don’t need a mechanic Put away the wrenches, the economy’s organic
REFRAIN REPEATS
KEYNES so what would you do to help those unemployed? this is the question you seem to avoid when we’re in a mess, would you just have us wait? Doing nothing until markets equilibrate?
HAYEK I don’t want to do nothing, there’s plenty to do The question I ponder is who plans for whom? Do I plan for myself or leave it to you? I want plans by the many, not by the few. Let’s not repeat what created our troubles I want real growth not a series of bubbles Stop bailing out loser, let prices work If we don’t try to steer them they won’t go berserk
KEYNES Come on, Are you kidding? Don’t Wall Street’s gyrations Challenge your world view of self-regulation? Even you must admit that the lesson we’ve learned Is more oversight’s needed or else we’ll get burned
HAYEK Oversight? The government’s long been in bed With those Wall Street execs and the firms that they’ve bled Capitalism’s about profit and loss you bail out the losers there’s no end to the cost the lesson I’ve learned? It’s how little we know, the world is complex, not some circular flow the economy’s not a class you can master in college to think otherwise is the pretense of knowledge
REFRAIN REPEATS
KEYNES You get on your high horse and you’re off to the races I look at the world on a case by case basis When people are suffering I roll up my sleeves And do what I can to cure our disease The future’s uncertain, our outlooks are frail Thats why free markets are so prone to fail In a volatile world we need more discretion So state intervention can counter depression
HAYEK People aren’t chessmen you move on a board at your whim–their dreams and desires ignored With political incentives, discretion’s a joke Those dials you’re twisting… just mirrors and smoke We need stable rules and real market prices so prosperity emerges and cuts short the crisis give us a chance so we can discover the most valuable ways to serve one another
FINAL REFRAIN Which way should we choose? more bottom up or more top down the fight continues… Keynes and Hayek’s second round it’s time to weigh in… more from the top or from the ground …lets listen to the greats Keynes and Hayek throwing down
4 comentários:
Como nem todo mundo tem o ouvido sensível do Ronald para o inglês, reproduzo abaixo, para quem tem dificuldades, a letra do RAP. Como é muito grande para um único post, enviou em duas partes.
Parte 1
“Fight of the Century” Lyrics.
Written by John Papola and Russ Roberts
KEYNES
Here we are… peace out! great recession
thanks to me, as you see, we’re not in a depression
Recovery, destiny if you follow my lesson
Lord Keynes, here I come, line up for the procession
HAYEK
We brought out the shovels and we’re still in a ditch…
And still digging. don’t you think that it’s time for a switch…
From that hair of the dog. Friend, the party is over.
The long run is here. It’s time to get sober!
KEYNES
Are you kidding? my cure works perfectly fine…
have a look, the great recession ended back in ’09.
I deserve credit. Things would have been worse
All the estimates prove it—I’ll quote chapter and verse
HAYEK
Econometricians, they’re ever so pious
Are they doing real science or confirming their bias?
Their “Keynesian” models are tidy and neat
But that top down approach is a fatal conceit
REFRAIN
Which way should we choose?
more bottom up or more top down
…the fight continues…
Keynes and Hayek’s second round
it’s time to weigh in…
more from the top or from the ground
…lets listen to the greats
Keynes and Hayek throwing down
KEYNES
We could have done better, had we only spent more
Too bad that only happens when there’s a World War
You can carp all you want about stats and regression
Do you deny World War II cut short the Depression?
HAYEK
Wow. One data point and you’re jumping for joy
the Last time I checked, wars only destroy
There was no multiplier, consumption just shrank
As we used scarce resources for every new tank
Pretty perverse to call that prosperity
Rationed meat, Rationed butter… a life of austerity
When that war spending ended your friends cried disaster
yet the economy thrived and grew faster
KEYNES
You too only see what you want to see
The spending on war clearly goosed GDP
Unemployment was over, almost down to zero
That’s why I’m the master, that’s why I’m the hero
HAYEK
Creating employment’s a straightforward craft
When the nation’s at war, and there’s a draft
If every worker was staffed in the army and fleet
We’d have full employment and nothing to eat
REFRAIN REPEATS
HAYEK
jobs are a means, not the ends in themselves
people work to live better, to put food on the shelves
real growth means production of what people demand
That’s entrepreneurship not your central plan
Fechando o posto anterior, aqui vai a segunda parte do RAP
PArte 2
KEYNES
My solution is simple and easy to handle..
its spending that matters, why’s that such a scandal?
The money sloshes through the pipes and the sluices
revitalizing the economy’s juices
it’s just like an engine that’s stalled and gone dark
To bring it to life, we need a quick spark
Spending’s the life blood that gets the flow going
Where it goes doesn’t matter, just get spending flowing
HAYEK
You see slack in some sectors as a “general glut”
But some sectors are healthy, only some in a rut
So spending’s not free – that’s the heart of the matter
too much is wasted as cronies get fatter.
The economy’s not a car, there’s no engine to stall
no expert can fix it, there’s no “it” at all.
The economy’s us, we don’t need a mechanic
Put away the wrenches, the economy’s organic
REFRAIN REPEATS
KEYNES
so what would you do to help those unemployed?
this is the question you seem to avoid
when we’re in a mess, would you just have us wait?
Doing nothing until markets equilibrate?
HAYEK
I don’t want to do nothing, there’s plenty to do
The question I ponder is who plans for whom?
Do I plan for myself or leave it to you?
I want plans by the many, not by the few.
Let’s not repeat what created our troubles
I want real growth not a series of bubbles
Stop bailing out loser, let prices work
If we don’t try to steer them they won’t go berserk
KEYNES
Come on, Are you kidding? Don’t Wall Street’s gyrations
Challenge your world view of self-regulation?
Even you must admit that the lesson we’ve learned
Is more oversight’s needed or else we’ll get burned
HAYEK
Oversight? The government’s long been in bed
With those Wall Street execs and the firms that they’ve bled
Capitalism’s about profit and loss
you bail out the losers there’s no end to the cost
the lesson I’ve learned? It’s how little we know,
the world is complex, not some circular flow
the economy’s not a class you can master in college
to think otherwise is the pretense of knowledge
REFRAIN REPEATS
KEYNES
You get on your high horse and you’re off to the races
I look at the world on a case by case basis
When people are suffering I roll up my sleeves
And do what I can to cure our disease
The future’s uncertain, our outlooks are frail
Thats why free markets are so prone to fail
In a volatile world we need more discretion
So state intervention can counter depression
HAYEK
People aren’t chessmen you move on a board
at your whim–their dreams and desires ignored
With political incentives, discretion’s a joke
Those dials you’re twisting… just mirrors and smoke
We need stable rules and real market prices
so prosperity emerges and cuts short the crisis
give us a chance so we can discover
the most valuable ways to serve one another
FINAL REFRAIN
Which way should we choose?
more bottom up or more top down
the fight continues…
Keynes and Hayek’s second round
it’s time to weigh in…
more from the top or from the ground
…lets listen to the greats
Keynes and Hayek throwing down
Degauss,
Grato pela contribuição!
Melhor com legendas em portugues:
http://www.youtube.com/watch?v=vumOro6Ygi0
Postar um comentário