Hayek’s Gift

Keynes and Hayek discuss the state of the economy over a fine holiday meal. In a sign of sincere affection, Hayek makes a small contribution to the circular flow of spending.

The LEGO Movie

Andrew discusses the animated hit comedy The LEGO Movie. Subjects include emergent order, creative destruction, and central planning.

Dallas Buyers Club

In this premiere episode of EconPop, Andrew discusses the economics of Academy Award winner Dallas Buyers Club. Subjects include public health and safety regulations, crony capitalism and the role of regulatory capture, the emergence of black and grey markets, and commercial exchange as a means for increased social tolerance.

The Bust – with Larry White

So the boom turns to bust. What now? In this EconStories mini-documentary, economist and Hayek scholar Lawrence H. White offers his view on a Hayekian response to the bust phase of the Boom and Bust cycle and responds to the charge that F. A. Hayek was a “liquidationist.”

Lawrence H. White is a professor of economics at George Mason University. Prior to position at George Mason, he was the F. A. Hayek Professor of Economic History in the Department of Economics, University of Missouri-St. Louis. He has been a visiting professor at the Queen’s School of Management and Economics, Queen’s University of Belfast, and a visiting scholar at the Federal Reserve Bank of Atlanta.

WALL-E

In this episode Andrew Heaton discusses Pixar Animation Studio’s 2008 science fiction rom-com, WALL-E. Subjects include scarcity, private property, and the Tragedy of the Commons!

EconStories at The Economist

On October 25th, an audience of financial managers and CEOs, politicians, central bankers and Nobel Prize-winning economists at The Economist’s Buttonwood Gathering were treated to an unusual experience: a live rap battle between John Maynard Keynes and F. A. Hayek.

Following a presentation by Nassim Taleb, the lights went down in the auditorium and Fear the Boom and Bust blasted onto the screen. This video picks up at the end of that special presentation, where Keynes and Hayek stepped onto the stage to give a preview of the next EconStories music video.

In the final new video, which will be completed in the months ahead, expect many more lyrics and an all new beat.

Lastly, Russ Roberts and John Papola took the stage with John Micklethwait, editor-in-chief of The Economist for a brief Q&A about the origins of FTBB and the resurgence of Hayek in the global debate over the economy.

The complete set of presentations are available at http://buttonwood.economist.com

Fear The Boom and Bust

John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on the economic crisis. Before the conference begins, and at the insistence of Lord Keynes, they go out for a night on the town and sing about why there's a "boom and bust" cycle in modern economies and good reason to fear it.

Robocop

Andrew discusses Paul Verhoeven's 1987 action classic, RoboCop. Subjects include innovation, public goods, and corporate skullduggery.

House of Cards

In this episode of EconPop, Andrew discusses the Emmy award-winning Netflix original series House of Cards. Subjects include public choice theory, rent seeking, regulatory capture, and the incentives that drive political corruption.

Love Gov: Episode 3

Love Gov is the story of an independent, fun-loving, young woman, Alexis, and her boyfriend, Scott "Gov" Govinski, who is always there to help. Always. In this episode: Alexis needs a healthcare plan, but the options are so confusing. "Gov"’s got Alexis covered to protect her from her own choices, but can she afford it?

Liberty Fund Live

How do we create a better world? Through what set of rules, laws, private and public institutions can the good society flourish?

Last April, Liberty Fund and Butler University sponsored a symposium to explore these issues titled “Capitalism, Government, and the Good Society”, hosted by EconStories co-creator Russ Roberts. Participants included Mike Munger, Robert Skidelsky and Richard Epstein. Jamie Galbraith was also set to participate but unfortunate weather delays prevented his arrival in time for the event.

Additional links and resources can be found at The Library of Economics and Liberty.

Love Gov: Episode 1

Love Gov is the story of an independent, fun-loving, young woman, Alexis, and her boyfriend, Scott "Gov" Govinski, who is always there to help. Always. In this episode: College sure is expensive, and Alexis is getting really worried about her mounting college debt. In her meeting Scott “Gov” Govinski, he says that's what loans are for.

The Cluster of Errors – with Larry White

Are Austrian economists a broken clock that’s right twice a day (when there’s a bubble that busts)? Why do entrepreneurs continue to be fooled by manipulation of interest rates by the central bank?

In this EconStories mini-documentary, part III in our first series on the Mises/Hayek theory of boom and bust, Lawrence H. White addresses the expectations and the cluster of entrepreneurial errors that reveal themselves during a bust.

Lawrence H. White is a professor of economics at George Mason University. Prior to position at George Mason, he was the F. A. Hayek Professor of Economic History in the Department of Economics, University of Missouri-St. Louis. He has been a visiting professor at the Queen’s School of Management and Economics, Queen’s University of Belfast, and a visiting scholar at the Federal Reserve Bank of Atlanta.

The Hudsucker Proxy

In this episode of EconPop, Andrew discusses the Coen Brother's 1994 screwball comedy, The Hudsucker Proxy. Subjects include supply and demand, and the minimum wage.

Back To School

Andrew discusses the 1986 “slob comedy” classic, Back To School. Subjects include human capital and the "value" of education.

Robert Skidelsky on Keynes

Is our prosperity derived from a continual circular flow of spending? Is it impossible for a society to increase it’s total savings? Can deficit spending by a government step in to replace private activity in order to maintain full employment and restore lasting economic growth? What is a liquidity trap and what does it mean for the economy? What did Keynes really mean by “in the long run, we’re all dead”?

In this EconStories mini-documentary, we explore the foundations of Keynesian economics with Keynes most famed biography, Lord Robert Skidelsky.

The Shawshank Redemption

In this episode of EconPop, Andrew discusses the beloved 1994 prison drama, The Shawshank Redemption. Subjects include supply and demand, the emergence of markets, and currency.

Ghostbusters

In this episode of EconPop, Andrew discusses Ivan Reitman's classic paranormal comedy Ghostbusters. Subjects include entrepreneurship, subjective value, regulatory interference, and ectoplasm!

Elysium

Andrew discusses the 2013 dystopian thriller, Elysium. Subjects include income inequality, innovation, and jobs.

[TV] House of Cards

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“House of Cards” is a wicked one-hour political drama series from Media Rights Capital that slithers behind the curtain of power, sex, ambition, love, greed and corruption in modern Washington D.C. An uncompromising exploration of power, ambition and the American way, the series orbits Francis Underwood (Spacey), the House Majority Whip. Underwood is the politician’s politician – masterful, beguiling, charismatic and ruthless. He and his equally ambitious wife Claire (Wright) stop at nothing to ensure their ascendancy.

Love Gov: Episode 5

Love Gov is the story of an independent, fun-loving, young woman, Alexis, and her boyfriend, Scott "Gov" Govinski, who is always there to help. Always. In this episode: Alexis thinks she’s being spied on, but "Gov" believes if she has done nothing wrong, she must have nothing to hide. How far will "Gov" go?

[Movie] Back to School

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Rodney Dangerfield plays self-made millionaire Thornton Mellon, owner of a chain of tall and fat clothing stores, who, after divorcing his philandering wife, enrolls in college to keep his son from dropping out. Rodney’s invasion quickly turns the campus into a non-stop party zone, and he even helps the diving team win their big meet.

It’s A Wonderful Life

Andrew discusses Frank Capra's beloved 1946 fantasy drama, It's a Wonderful Life. Subjects include loans and credit, banking, and FDIC insurance.

Love Gov: Episode 2

Love Gov is the story of an independent, fun-loving, young woman, Alexis, and her boyfriend, Scott "Gov" Govinski, who is always there to help. Always. In this episode: Alexis has started a business and hired her friend Libby. For "Gov," that sounds dangerous, so he comes to rescue Libby out of a job.

Deck The Halls with Macro Follies

Each year, our attention turns to the holidays… and to holiday consumer spending! We’re told repeatedly that, because consumer spending is 70 percent of measured GDP, such spending is vital to economic growth and job creation. This must mean that savings, the opposite of consumption, is bad for growth. But is it? Can we really consume our way to prosperity, or do savings and investment actually drive economic growth?

Fight Of The Century

According to the National Bureau of Economic Research, the Great Recession technically ended in the summer of 2009. Yet in the years that have followed, GDP growth has been anemic and job growth has been the slowest of any recovery since the Great Depression. What have we learned about the boom and bust since Keynes and Hayek first rap battle, Fear the Boom and Bust? Where should we head from here? Is that question even meaningful? Can the government steer the economy or have past attempts helped create the mess we’re still in?

The Treasure of the Sierra Madre

Andrew discusses John Huston's classic 1948 adventure film, The Treasure of the Sierra Madre. Subjects include subjective value, Karl Marx's Labor Theory of Value, and opportunity cost.

Love Gov: Episode 4

Love Gov is the story of an independent, fun-loving, young woman, Alexis, and her boyfriend, Scott "Gov" Govinski, who is always there to help. Always. In this episode: Alexis wants to buy a home. Is "Gov" going to help? Housing is expensive, but not expensive enough!

Fear The Boom – with Larry White

In this EconStories mini-documentary, economist and Hayek scholar Lawrence H. White provides an overview of the Mises/Hayek “Austrian” theory of Boom and Bust. Part one focuses on the unsustainability of a boom driven by artificially low interest rates and credit expansion by the central bank (the Fed) beyond the supply of genuine savings.

Lawrence H. White is a professor of economics at George Mason University. Prior to position at George Mason, he was the F. A. Hayek Professor of Economic History in the Department of Economics, University of Missouri-St. Louis. He has been a visiting professor at the Queen’s School of Management and Economics, Queen’s University of Belfast, and a visiting scholar at the Federal Reserve Bank of Atlanta.

[Book] The Constitution of Liberty: The Definitive Edition

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The latest entry in the University of Chicago Press’s series of newly edited editions of Hayek’s works,The Constitution of Liberty is, like Serfdom, just as relevant to our present moment. The book is considered Hayek’s classic statement on the ideals of freedom and liberty, ideals that he believes have guided—and must continue to guide—the growth of Western civilization.

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