There aren’t a lot of debates between Austrian and Keynesian economists out there unfortunately, but I was able to dig one up. Here Lord Robert Skidelsky, author of Keynes: The Return of the Master and Russ Roberts, the host of Econtalk and the guy behind the Keynes/Hayek rap video. Here they debate the roots of the current financial crisis. For the entire debate, see here.

OK, so this is the epitome of economic nerdiness, but admittedly I love it. John Maynard Keynes and F.A. Hayek come back to life to debate whether Keynesian or Austrian economics explain the economy, the only way they know how; rap-off:

Here is an excerpt from a longer debate, where Tom Woods lays out the case against the Federal Reserve.

There are major advantages to 100% reserve banking. Right off the bat, banking panics are simply impossible. Since every bank has all its money on hand (or its customers aren’t contractually entitled to it at that time), there is no way that a run on the bank will cause a bank to go under. And therefore, large banking crises, such as the one we are seeing today, or saw in the Great Depression, or in the panics of 1819, 1837, 1857, 1871, 1893, 1907, etc. would never happen.