Fear the Boom and Bust

28. janvāra, 2010


Vjačeslavs Dombrovskis

Here is a great economics lesson, which is only seven minutes long (thanks to jb for a pointer)!


It’s produced by the Mercatus Center at George Mason University. I spent a semester there as a Fulbright Scholar at the Center for Study of Public Choice back in 2007. These are some very free markets guys in case you haven’t noticed. Still, they are anything but lightweights and can deliver a solid punch!

Incidentally, Russ Roberts runs another great resource, the Econtalk, which I highly recommend.

This famous quote by Keynes is really timeless:

” Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist…”

Will everybody whose knowledge of economics boils down to “we should stimulate the economy” please stand up?

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