Saw this video on National Review Online and had to share. A simple explanation as to why the Broken Window theory, still touted by many such as Paul Krugman, is simply wrong. The speaker is Dr. Tom G. Palmer, Vice President of the Atlas Economic Research Foundation.

By the way, please don't comment if you're going to try and make a case that only measures economic activity. Yes I understand that disasters sometimes spur economic activity, but assets have still been destroyed. The net is a loss.

Very well made rap by Econ Stories illustrating the two schools of thought fighting for control of our economy.

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.

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