Deck the Halls with Macro Follies

The people that put together the Keynes vs Hayek raps have come out with a video that addresses an important question at this time of year - should we be spending up big on Christmas presents in order to stimulate the economy?

The video promotes a new "Christmas CD" where a number of very influential economists give their points of view via christmas carols. Keynes and Hayek make an appearance of course, along with Malthus and Say. And who is Santa at the end?

The team at econstories.tv definitely have a point of view that leans heavily towards Hayek's ideas, put simply that it is savings and investment that will drive the economy, not consumption. But it is useful to remind students that economists don't always agree and even economics teachers are likely to have our own bias!

More background on the video can be found at the econstories.tv website.