WELL, IT DOES MAKE THE WORLD GO ROUND! "MASTERS OF MONEY"

Ok, I decided to try something a little different this week.  Just a tiny bit different, you know. I mean, the series I’m going to talk about is technically a series of documentaries so I’m not that far off the mark. However, they are less cinematic and more of the educational sort. Not surprising really, seeing as they were prepared by the Open University. See, but the thing is, given the turbulent times we live in, I think these are necessary and useful. If only because I feel we really, truly need to understand the world we live in. More specifically the economic situation we are in. Given the fact that the global recession (being global and all) pretty much touched us all in some form or another, I think this is important. Because these documentaries aren’t about some flashy banking scandal or something. They are about serious economists. And more specifically, how their scientific theories could be used to explain and potentially solve the global crisis we are in today. This documentary presents the three main “schools of thought” and invites you to make your own decision at the end of the day.

Now, the documentary is made up of three episodes of one hour each, each one dedicated to a particular thinker and economist. We study the theories of Keynes, Hayek (who, I admit to my shame I had never heard of despite my original International Relations training) and the inevitable Karl Marx. The episodes are biographical, as documentaries are want to be, but also contain a heavy-ish dose of their theoretical work as well. The main aim of the programme is to take these theories and apply them to the crisis today. Every thinker has (or rather would have, seeing as they have all been dead for a while now) a suggestion that is radically different from the others. You will not only gain a lot of general culture through these programmes you may also gain a deeper understanding of what is going on around us. The recession isn’t over yet, as you probably well know.

Well, like I said, this is one to be watched for educational value more than entertainment. It is heavy on the economics and its main aim is to put across economic theory, not juicy titbits from the lives of the three men. However, if you do want to start thinking about these things, or want to learn a bit more, refresh your memory etc, these programmes are for you. I mean, hand on heart. Numbers and I have never got along. I get on even less with complex economic theory. Give me words; I can pretty much get them to do anything. Give me numbers – and anything more complex than basic sums – my IQ usually drops to about 10. No, not the IQ of a ten-year old. 10 on the measurement scale. Given this fact, the Open University seems to have pretty much idiot-proofed the documentaries. No matter how familiar you may (or may not) be with economics, you can pretty much be sure you will work away with at least a basic understanding of the theories discussed and how they apply to the crisis today. I mean, it got me thinking about economics. And that is most DEFINITELY an achievement.