Friday, August 26, 2011

Keynesian Economics VS. Austrian Economics That's The Question

Ben Stein, who accused Ron Paul of anti-semtism without a shred of evidence some time ago, said about Rick Perry's "Ben Bernanke committed treason" comment:
"I hope he gets some moderation in his speech and some lessons in economics and soon"
Allthough I agree with the first part, (In light of Ben's own outrageous statement on Ron Paul) I am not entirely sure Ben Stein is the right person to give lessons on moderation to Rick Perry. However, Rick Perry's statement does make Ron Paul look like a Moderate, as Ron Paul himself recently said:
"I'll tell you what, he makes me sound like a moderate," Paul said at a campaign stop in Concord, New Hampshire. "I have never once said Bernanke has committed treason. But I have suggested very strongly that the Federal Reserve system and all the members have been counterfeiters for a long time." The remarks were first reported by NBC News."
However, Ben Stein's statements is an illustration of why Rick Perry's outlash is counterproductive to a debate on economic theory. As Iowa State Representative Josh Byrnes stated in reaction to Rick Perry's comments:
"We, "the middle people", are looking for a candidate who can share a sound vision with us on how to make this country great. We need an out-of-the-box thinker who is willing to make some tough decisions to get us back on track. We don't need anymore "dart throwers". We need a statesman."
The real debate on the role of the FED is a debate on economic theory. A debate between the Austrian school and Keynesian economics. Both Perry and Stein are merely using tactics to avoid having to deal with Ron Paul's main campaign theme. Ron Paul's opponents should start to "engage or die"!

We urgently need something more substantial then the usual disingenuous evasion tactics that we are familiar with from Alan Greenspan who doesn't even hide that he was intentionally not answering questions in Congress when using a indicypherible delphic dialect known as "FEDSPEAK" :
"I would engage in some form of syntax-destruction which sounded as though I answered the question, but in fact I hadn't."
Charlie Pribble points to an example of how Paul's critics are trying distortion tactisc to avoid discussing substance and facts.

Ron Paul's campaign for civil liberties, his transpartisan coalition building, his foreign policy and his austrian economics deserve to be engaged on substance.
As Tammy Bruce, who launched a direct attack on Rick Perry's semi-covert campaign strategist Josh Trevino this week, said on Fox Business yesterday:
"That's what all of us want, we want some security, we want to know what the next year is going to look like, Ben Bernanke to stop printing money. Regular people trying to make a living day to day. We want to know what is going to happen. The truth is that when the FED decided to hold of for the next two years on interest rates. They were saying we can't do anything now and the reason they can't do anything and reject the notion of the Obama theory of regulating the world and regulating people's lifes is that in order for things to work is that people have to be left alone. They have to be left alone to be able to thrive and make their own decisions. And really the American system and the free market allows people to know that their work and the nature of the consumer and our own optimism for the future has allways worked before. This overreaching and involvement is what has killed us and I think that is making people nervous." 
Sounds a lot like what Ron Paul was saying at the  Florida Liberty Summit in Orland last week:

If Republican presidential hopeful Ron Paul is dissatisfied with the attention he's getting in America, here's another audience he might try: southeastern France.

No comments: