{
 "rec_id": "media-the-business-cycle-what-is-the-keynesian-solution-to-depressions",
 "course": "the-business-cycle",
 "title": "What is the Keynesian solution to depressions?",
 "speaker": "Murray N. Rothbard",
 "source_file": "media/The Business Cycle/What is the Keynesian solution to depressions_ Murray N Rothbard.mp3",
 "model": "medium",
 "language": "en",
 "language_probability": 1,
 "duration_s": 49.2,
 "generated": "2026-08-06T00:16:12Z",
 "generator": "scripts/transcribe_lectures.py (faster-whisper)",
 "machine_generated": true,
 "warnings": [],
 "text": "Keynes says, well, the cause of depression is essentially the loss of, we call it animal spirits in the form of businessmen, they get too pessimistic, they stop investing, and therefore you need, since businessmen are important, since investors, in other words, are important but irrational, irrational because they follow their moods, they get too pessimistic, therefore you need another group of people who are not only important and basic, and also rational, clear-headed, following deep economic advice, namely, of course, the government. Since business men are irrational, we give the rational government a step in and correct for the irrational moves of business men. This government has no moves. The government is sort of Olympians figures, you know, planning ahead for the future.",
 "segments": [
  {
   "start": 0.0,
   "end": 30.0,
   "text": "Keynes says, well, the cause of depression is essentially the loss of, we call it animal spirits in the form of businessmen, they get too pessimistic, they stop investing, and therefore you need, since businessmen are important, since investors, in other words, are important but irrational, irrational because they follow their moods, they get too pessimistic, therefore you need another group of people who are not only important and basic,",
   "logprob": -0.28
  },
  {
   "start": 30.0,
   "end": 36.0,
   "text": "and also rational, clear-headed, following deep economic advice, namely, of course, the government.",
   "logprob": -0.32
  },
  {
   "start": 36.0,
   "end": 43.0,
   "text": "Since business men are irrational, we give the rational government a step in and correct for the irrational moves of business men.",
   "logprob": -0.32
  },
  {
   "start": 43.0,
   "end": 49.0,
   "text": "This government has no moves. The government is sort of Olympians figures, you know, planning ahead for the future.",
   "logprob": -0.32
  }
 ]
}