I searched for the word "economics" on Youtube and was astonished to find Khan Academy hosting lectures on economics. This academy, which was supposedly helping kids with their homework, has now gone well beyond that.
It is trying to teach classical vs. Keynesian economics, as well. E.g.
This video (above) has had 22,000 hits since it was uploaded this March! That's astonishing.
More astonishing is that this kind of video will confuse an entire new generation of economists across the world!
The classicals did NOT have a concept of "aggregate demand". I didn't listen to the whole of this video, but it is becoming increasingly clear that unless misrepresentations are fought on Youtube by putting out more sensible lectures, things will get even worse for public policy.
This is no time to be writing books and ordinary lectures to one's students. This is the time to be giving talks and lectures for Youtube.
I trust academics like Steve Kates will pay heed to this and try to get his own lectures uploaded onto the Khan Academy. The battle for ideas has now comprehensively reached Youtube.
Education is changing RAPIDLY in front of our eyes.
I've not watched TV for nearly 5 years now. Mostly use the internet in my spare time. I'm sure the TV (as a medium of education) is rapidly dying. It is over to Youtube now.
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