Dad Saves America
Dad Saves America
These Guys Made YouTube’s First Viral Rap Battle | The Show

These Guys Made YouTube’s First Viral Rap Battle | The Show

What do hip hop and economics have in common? Well, until host John Papola and Russ Roberts met following the 2008 Global Financial Crisis, there was very little overlap between those two topics.

John learned of Russ after listening to his popular podcast, EconTalk, which sent John down the economics rabbit-hole. This led to an unlikely collaboration between John, a filmmaker, and Russ, economist. In 2010, “Fear the Boom and Bust: Keynes vs. Hayek” debuted on YouTube and became an internet sensation, practically overnight. It was the first viral rap battle of its kind, predating the popular “Epic Rap Battles Of History” by over 8 months. This project ended up changing the course of John’s career, eventually leading to Dad Saves America.

In this episode of Dad Saves America, these two friends discuss their shared passions of economics, storytelling, Adam Smith, and emergent order. Russ recently published a book about thinking through the big questions in life called Wild Problems: A Guide to the Decisions That Define Us.

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[0:00] Intro

[1:51] What is economics?

[11:09] What are trade-offs?

[15:13] Incentives matter

[19:51] Skin-in-the-game and responsibility

[22:59] Subjective value

[27:56] Incentives matter, continued

[32:04] What is emergent order?

[39:14] Trade is not a zero-sum game

[41:59] Say’s law of markets and Keynesian spending

[46:10] Adam Smith’s theory of why we’re nice to people

[51:29] The impartial spectator

[54:54] Being loved and being lovely

[58:44] How do you know what you want?

[1:03:48] Your child is an autonomous extension of you

[1:09:46] What is the nature of being a dad?

[1:12:48] Making the world better isn’t about grandiose theories

[1:15:17] Outro


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Dad Saves America is a channel dedicated to celebrating heroic fatherhood while teaching the next generation of fathers strategies they can utilize in parenting their children. We believe strong children come from a strong family. We’ve had many experts in the studio, including Jonathan Haidt, Mike Yates, Lenore Skenazy, Warren Farrell, Matt Ridley, Martin Gurri, and Michael Strong.

Dad Saves America
Dad Saves America
Dad Saves America is all about celebrating dads and fatherhood. Fatherhood is the greatest opportunity to make a positive impact you will have in your lifetime. We’re figuring out how to raise a generation of resilient, independent-minded kids who are ready to embrace freedom in their future. Top experts and engaging personalities, including Adam Carolla, Dr. Drew Pinsky, Adam Curry, Daymond John, and Jay Glazer, trade stories of childhood, parenthood, and all the issues impacting how we raise our kids with host John Papola.