The Covid-19 pandemic and subsequent lockdowns sent the US (and world) economies into an immediate recession. The US experienced record high levels of unemployment and a massive reduction in GDP. To counteract this recession, the federal government enacted a series of expansionary fiscal policy recommendations that increased the aggregate demand curve to account for the previous reduction.
Chris Frisby lost his job due to the COVID-19 pandemic affecting the economy. Soon after, he was evicted from his home and was sleeping on the street. One way to teach the importance of fiscal policy and minimizing implementation tags is to identify real people who can be helped through these policies. Targeted policies that can reach people quickly will help stave off the impact of recessions (or pandemics!) and allowed the economy to continue producing at a reasonable level.
Thanks to Bill Goffe for the clip recommendation.
The Bank of Jamaica has released some catchy snippets discussing inflation targeting with a reggae beat and the benefits of low, stable inflation for investors and consumers.
The great debate between Keynes and Hayek in rap form!