Economy Blues

In a recent issue of Computers in Classrooms, which I posted on my main website, ICT in Education, I mentioned the fact that many moons ago I taught my students the basics of two opposing economics theories by summarising each of them in a blues song. One of my subscribers said, in an email to me:

"I'd have liked the words to your economics blues songs."

So, here they are! Enjoy.

Monetarist Theory Blues

by Irving Fisher and the Classicals

Woke up this morning, saw that interest rates are low.

I said I woke up this morning, and saw that interest rates are low.

I said to my woman, I ain't gonna save nothing no more.

 

My woman told me, son you better save some cash.

Yes, my woman told me, boy you better save some cash.

I told her interest rates are low, so ain't no point in building up a stash.

 

One of these days, interest rates are gonna rise again.

I got a feeling in my bones, that interest rates gonna rise again.

When that day come, my days of spending are gonna end.

 

Keynesian Theory Blues

By Johnny Keynes and the Marginals

Interest rates are high, but my income's way too low.

I said that interest rates are high, but my income's way too low.

I said to my woman, I ain't gonna save nothing no more.

 

My woman told me that stashing my cash is wrong.

Yes, my woman done told me, that stashing my cash is wrong.

She don't seem to understand that I might wanna buy me some bonds.

 

One of these mornings, gonna get me a well-paid job.

I said that one of these mornings, I'm gonna get me a well-paid job.

When that day come, gonna stop being a no-savings slob.

 

Technorati tags: blues, economy blues, economic theory blues, Terry Freedman