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. … [read more]
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!
[Movie] The Lego Movie
The LEGO movie follows Emmet, who is on an epic quest to stop an evil tyrant from gluing the universe together, a journey for which he is hopelessly and hilariously underprepared.
In this episode of EconPop, Andrew discusses Ivan Reitman’s classic paranormal comedy Ghostbusters. Subjects include entrepreneurship, subjective value, regulatory interference, and ectoplasm!
[Book] THE GENERAL THEORY OF EMPLOYMENT, INTEREST, AND MONEY
Keynes profoundly influenced the New Deal and created the basis for classic economic theory. “I can think of no single book that has so changed the conception held by economists as to the working of the capitalist system”
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.
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.
In this episode Andrew Heaton, Steve Horwitz and Paul Cantor discuss Pixar Animation Studio’s 2008 science fiction rom-com, WALL-E. Subjects include scarcity, private property, and the Tragedy of the Commons!
[Movie] Shawshank Redemption
Academy Award® winner Tim Robbins stars in this Oscar® nominated drama about a banker who is wrongly convicted of the murder of his wife and her lover.
[Book] The Constitution of Liberty: The Definitive Edition
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 … [read more]
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 … [read more]
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?
Fear The Boom and Bust
In 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.
Ghosts invade New York and force a trio of spirit exterminators to save the city in one of the biggest comedies of all time. Bill Murray, Dan Aykroyd and Sigourney Weaver head the all-star cast.
[Book] The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years
The Clash of Economic Ideas interweaves the economic history of the last hundred years with the history of economic doctrines to understand how contrasting economic ideas have originated and developed over time to take their present forms.
Back To School
In this episode of EconPop, Andrew discusses the 1986 “slob comedy” classic, Back To School. Subjects include human capital and the “value” of education.
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 … [read more]
[Movie] It’s a Wonderful Life
An angel helps a compassionate but despairingly frustrated businessman by showing what life would have been like if he never existed.
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 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 … [read more]
[TV] House of Cards
“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 … [read more]
The LEGO Movie
In this episode of EconPop, Andrew discusses the animated hit comedy The LEGO Movie. Subjects include emergent order, creative destruction, and central planning.
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?
John Maynard Keynes and F. A. Hayek never agreed on the answers to these questions and they still don’t. Let’s listen to the greats. See Keynes and Hayek throwing down in “Fight of the Century.”
[Movie] Robocop Twopack
There’s a new law enforcer in town and he’s half man, half machine! From the director of Total Recall and Basic Instinct comes a “sci-fi fantasy with sleek, high-powered drive” (Time) about an indestructible high-tech policeman who dishes out justice at every turn!
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 … [read more]
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…
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?
The story of a robot designed to clean up a polluted Earth.
In the year 2154, two classes of people exist: the very wealthy, who live on a pristine man-made space station called Elysium, and the rest, who live on an overpopulated, ruined Earth.
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 … [read more]
[Movie] Dallas Buyers Club
Matthew McConaughey gives the performance of his career in this true story about a cowboy who takes matters into his own hands after he’s diagnosed as HIV-positive and given 30 days to live.
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.
[Movie] The Treasure of the Sierra Madre
Three ill-fated prospectors who set out across the Mexican desert in search of gold but instead find mistrust, betrayal, and death.
[Book] Keynes: A Very Short Introduction
John Maynard Keynes (1883-1946) is a central thinker of the twentieth century, not just an economic theorist and statesman, but also an important figure in economics, philosophy, politics, and culture. In this Very Short IntroductionLord Skidelsky, a renowned biographer of Keynes, explores his ethical and practical philosophy, his monetary thought, and provides an insight into … [read more]
[Movie] Back to School
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.
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.