Fear the Boom and Bust is a 2010 hip-hop style music video in which economists John Maynard Keynes

John Maynard Keynes

John Maynard Keynes, Baron Keynes of Tilton, CB FBA , was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of governments...

 and Friedrich von Hayek take part in a rap battle. The video revolves around a debate concerning the boom and bust cycle

Boom and bust

A credit boom-bust cycle is an episode characterized by a sustained increase in several economics indicators followed by a sharp and rapid contraction. Commonly the boom is driven by a rapid expansion of credit to the private sector accompanied with rising prices of commodities and stock market index...

, hence the title. It has more than two million views on YouTube

YouTube

YouTube is a video-sharing website, created by three former PayPal employees in February 2005, on which users can upload, view and share videos....

.

The video was created by Spike TV

Spike TV

Spike is an American cable television channel. It launched on March 7, 1983 as The Nashville Network , a joint venture of WSM, Inc...

 executive producer John Papola and economics professor Russ Roberts

Russell Roberts (economist)

Russell Roberts is a professor of economics at the George Mason University Mercatus Center. Roberts founded and directed the Management Center at the John M. Olin School of Business at Washington University in St. Louis...

 of the George Mason University

George Mason University

George Mason University is a public university based in unincorporated Fairfax County, Virginia, United States, south of and adjacent to the city of Fairfax. Additional campuses are located nearby in Arlington County, Prince William County, and Loudoun County...

 Mercatus Center

Mercatus Center

The Mercatus Center at George Mason University in the United States is a non-profit market-oriented research, education, and outreach think tank affiliated with the Koch family. It works with policy experts, lobbyists, and government officials to connect academic learning and real-world practice...

. Billy Scafuri and Adam Lustick, who are comedians with the Harvard Sailing Team

Harvard Sailing Team

Harvard Sailing Team is an award-winning New York City sketch comedy group featuring 5 women and 4 men. The team performs weekly in Manhattan and their popular YouTube videos have been viewed by over 5 million people...

 and Upright Citizens Brigade

Upright Citizens Brigade

The Upright Citizens Brigade is an improvisational comedy and sketch comedy group that emerged from Chicago's ImprovOlympic in 1990. The most recent incarnation consists of Matt Besser, Amy Poehler, Ian Roberts, and Matt Walsh...

, play Keynes and Hayek respectively.

In April 2011 a follow-up music video called Fight of the Century: Keynes vs. Hayek Round Two was released. This video examines the two economists' responses to the Great Recession. The central question is whether we need a "more bottom up or more top down" approach to managing the economy.

External links

• YouTube: "Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem
• YouTube: Fight of the Century: Keynes vs. Hayek Round Two
• EconStories
• "Smackdown: Keynes vs. Hayek With Poll" VA Classic Liberal, Daily Kos
  Daily Kos
  Daily Kos is an American political blog that publishes news and opinions from a progressive point of view. It functions as a discussion forum and group blog for a variety of netroots activists, whose efforts are primarily directed toward influencing and strengthening the Democratic Party...
  
  , accessed September 17, 2011
• EconTalk episode Russ Roberts discussion with John Papola on EconTalk
  EconTalk
  EconTalk is a weekly podcast hosted by professor Russell Roberts at George Mason University. Roberts interviews guests—often professional economists—on topics in economics....