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用简单易懂的RAP的让很多普通人目前的经济状况
We’ve been goingback and forth for a century
[Keynes] I want tosteer markets,
[Hayek] I wantthem set free
There’s a boom andbust cycle and good reason to fear it
[Hayek] Blame lowinterest rates.
[Keynes] No… it’sthe animal spirits
[Keynes Sings:]
John MaynardKeynes, wrote the book on modern macro
The man you needwhen the economy’s off track, [whoa]
Depression,recession now your question’s in session
Have a seat andI’ll school you in one simple lesson
BOOM, 1929 the bigcrash
We didn’t bounce back—economy’sin the trash
Persistentunemployment, the result of sticky wages
Waiting forrecovery? Seriously? That’s outrageous!
I had a real planany fool can understand
The advice, realsimple—boost aggregate demand!
C, I, G, alltogether gets to Y
Make sure thetotal’s growing, watch the economy fly
We’ve been goingback and forth for a century
[Keynes] I want tosteer markets,
[Hayek] I wantthem set free
There’s a boom andbust cycle and good reason to fear it
[Hayek] Blame lowinterest rates.
[Keynes] No… it’sthe animal spirits
You see it’s allabout spending, hear the register cha-ching
Circular flow, thedough is everything
So if that flow isgetting low, doesn’t matter the reason
We need moregovernment spending, now it’s stimulus season
So forget aboutsaving, get it straight out of your head
Like I said, inthe long run—we’re all dead
Savings isdestruction, that’s the paradox of thrift
Don’t keep moneyin your pocket, or that growth will never lift…
because…
Business is drivenby the animal spirits
The bull and thebear, and there’s reason to fear its
Effects on capitalinvestment, income and growth
That’s why thestate should fill the gap with stimulus both…
The monetary andthe fiscal, they’re equally correct
Public works,digging ditches, war has the same effect
Even a brokenwindow helps the glass man have some wealth
The multiplierdriving higher the economy’s health
And if the CentralBank’s interest rate policy tanks
A liquidity trap,that new money’s stuck in the banks!
Deficits could bethe cure, you been looking for
Let the spendingsoar, now that you know the score
My GeneralTheory’s made quite an impression
[a revolution] Itransformed the econ profession
You know me,modesty, still I’m taking a bow
Say it loud, sayit proud, we’re all Keynesians now
We’ve been goin’back n forth for a century
[Keynes] I want tosteer markets,
[Hayek] I wantthem set free
There’s a boom andbust cycle and good reason to fear it
[Keynes] I made mycase, Freddie H
Listen up , Canyou hear it?
Hayek sings:
I’ll begin inbroad strokes, just like my friend Keynes
His theoryconceals the mechanics of change,
That simpleequation, too much aggregation
Ignores humanaction and motivation
And yet itcontinues as a justification
For bailouts andpayoffs by pols with machinations
You provide themwith cover to sell us a free lunch
Then all thatwe’re left with is debt, and a bunch
If you’re livinghigh on that cheap credit hog
Don’t look forcure from the hair of the dog
Real savings comefirst if you want to invest
The marketcoordinates time with interest
Your focus onspending is pushing on thread
In the long run,my friend, it’s your theory that’s dead
So sorry there,buddy, if that sounds like invective
Prepared to getschooled in my Austrian perspective
We’ve been goingback and forth for a century
[Keynes] I want tosteer markets,
[Hayek] I wantthem set free
There’s a boom andbust cycle and good reason to fear it
[Hayek] Blame lowinterest rates.
[Keynes] No… it’sthe animal spirits
The place youshould study isn’t the bust
It’s the boom thatshould make you feel leery, that’s the thrust
Of my theory, thecapital structure is key.
Malinvestmentswreck the economy
The boom getsstarted with an expansion of credit
The Fed sets rateslow, are you starting to get it?
That new money isconfused for real loanable funds
But it’s justinflation that’s driving the ones
Who invest in newprojects like housing construction
The boom plantsthe seeds for its future destruction
The savings aren’treal, consumption’s up too
And the graspingfor resources reveals there’s too few
So the boom turnsto bust as the interest rates rise
With the costs ofproduction, price signals were lies
The boom was abinge that’s a matter of fact
Now its devaluedcapital that makes up the slack.
Whether it’s thelate twenties or two thousand and five
Booming badinvestments, seems like they’d thrive
You must save toinvest, don’t use the printing press
Or a bust willsurely follow, an economy depressed
Your so-called“stimulus” will make things even worse
It’s just more ofthe same, more incentives perversed
And that creditcrunch ain’t a liquidity trap
Just a brokebanking system, I’m done, that’s a wrap.
We’ve been goin’back n forth for a century
[Keynes] I want tosteer markets,
[Hayek] I wantthem set free
There’s a boom andbust cycle and good reason to fear it
[Hayek] Blame lowinterest rates.
[Keynes] No it’sthe animal spirits
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