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I just have to share this video with you all, as I am very interested in the topic being discussed. It involves the controversy surrounding the two opposing philosophies of economic thought, the Austrian School vs the Keynesian. This video is great because it presents the material in a fun way, as a rap song by two historical figures. You may not have heard much about this debate, but it has shaped the fabric of American life since John Maynard Keynes influential "The General Theory of Employment, Interest and Money " was published in 1936. This was countered by the Austrian school when Friedrich von Hayek received a Nobel Prize in 1974 for his work on Austrian Business Cycle Theory, which generally opposes most of the ideas set forth by Keynes. Our elected officials usually do not acknowledge this debate, as the Keynesian philosophy allows for plenty of government spending. As Milton Friedman once said, "we are all Keynesians now"
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