Scathing review of Ron Paul's End The Fed

Jonathan, my apologies but I was just about to say I’m getting out this debate. In spite of the good intentions on behalf of posters such as yourself, Physiocrat, zefreak, Dondolee, Nitro and Angurse (apologies to anybody I’ve missed) this has largely descended into a display of how unreceptive and hostile people can be, manifesting itself it the various ad homines being thrown around. If you wish to continue the discussion by all means send me a message and we can speak through private messages (same goes for other participants) but I suppose I’ll give a short answer to your post lest it otherwise go to waste.

Indeed, that is what it comes down to. Ultimately I and the other posters here have differing conceptions (although some posters seem to slide between the two positions) concerning of what it means to advance “Austrian economics”. The thing is, I can provide a fairly clear set of criteria, others have thus far been unable to do so (besides “getting it out there”). My clear criteria would probably be something like adding to the body of theoretical knowledge or using that knowledge from historical research. Or, of course, passing this knowledge to students who will presumably go along and do the same thing.

Do you have any similar set of criteria? Of course, getting it out there to the people is a nice vision, but ultimately it doesn’t do much good for science unless those people are going to add to the body of knowledge (you’d most likely disagree that adding to the body of knowledge or passing it on to those that will is the only way to advance science, but I’d like to see some justification for that position) it doesn’t matter. And given that the burden of proof is on the RP fan and they’ve failed to deliver, I’m still going to have to weigh down on the negative side.

I think this ultimately comes down to you providing justification for statements such as these “You assume that advancing this particular school of economics can be done by improving upon the theory. No, you’re wrong. Advancing this particular school of economics also includes widening the amount of people that are aware of its existence.”.

One more point, there’s nothing condescending about my argument. Look, I wish Keynesian economics and socialism worked, if they did the world would be a far better place. Likewise, I would like it to be true that the layman could contribute to science, the world of ideas would be far richer and to be honest I think bad ideas would be seen for what they are far more quickly. Now, in this day and age most of the low hanging fruit in economics (and almost all other sciences) has been taken. Economics is a difficult science, far more so than people here (myself included) sometime recognize. If I say that the layman can’t contribute it’s not because I’m planning to be an academic (which I am) and I want to limit the competition but because that’s what I think and that’s how I see the world.

whipitgood, let me say this once more. At the moment, I am one of these “laymen” we’ve been discussing, it’s not that I have it in for the layman or anything like that.

I don’t think I need to say anything more because my response to you is largely as it was to Jonathan. Although, one more point concerns this:

To offer you an analogy, I would hope that no WWII scholar looks back at the Holocaust and thinks “Wow, good thing Hitler killed 6million Jews, otherwise I’d never have got this job at Cambridge”. On the same token, in my opinion it’s perhaps somewhat unfortunate that Ron Paul has presumed to be competent to speak about the issues he does, the fact that this historical accident is responsible for me being brought to Austrian economics is a moot point.

Or, to offer you an analogy perhaps somewhat closer to home, consider the careers of Ludwig von Mises and Friedrich Hayek. Both economists, whilst truly great in a numerous areas, were brought to fame with their attacks on socialism and their predictions of its consequent collapse. Hayek even states in Individualism and Economic Order that he is not happy about the failures of socialism, he wished ,since the world was moving in the direction of socialism, that it could indeed work for the sake of humanity. Nonetheless, it turns out that it doesn’t and cannot work and he was famous because of this. I daresay Hayek would have chosen to be wrong if it had meant saving millions of lives.

Edit: In case the reader is confused I never meant to imply that Ron Paul was similar to the Hitler or anything along those lines. My point was merely that despite ones convictions concerning the status of an event, moral or otherwise, there needn’t be anything immoral about benefitting from it. In other words, sunk costs shouldn’t enter into analysis concerning the future. I wish to neither disresepct the victims of the Holocaust nor those of Socialism by comparing them to “damage” caused by Ron Paul’s campaign and the subsequent movement, but I think the analogy holds. Despite my opinions concerning his relationship with Austrian economics I very fond of Ron Paul and appreciate the work he has done (and I have said as much on this topic). However, that I appreciate the work he has done needn’t mean that I am entirely uncritical of his campaign.

On the way out, where you tuck your tail and run after getting handed your lunch (yet again), you take a pot shot at Ron Paul, comparing him to Hitler.

It would be unbelievable, if you didn’t already have a one year track record for this sort of nonsense.

and yet Ron P.'s right. He’s competently right. This whole thread you haven’t been able to actually debate Ron P., but only attack that he didn’t go to a university. So people can’t talk about AE. I guess everybody, except in the university, HAS to talk about socialism, communism, fascism, and mercantilism cause - good God - how dare they talk about the free market.

F-k off giles

LibertyStudent, I believe you’ve misunderstood my post and drawn some conclusions that are entirely unwarrented. I added an edit to my last post in the hope that you’ll come to understand the analogy better. I don’t believe Paul to be Nazi and as others have posted out and I’ve admitted, I have great respect for him.

Wilderness, I’ve said that I don’t want to continue this. Let me reiterate that if you wish to continue the discussion I’d be more than willing to answer any private messages. But right here and now this discussion has got to the point where returns are exceedingly low and to be honest I’ve got better things to do than sworn at, have my posts intepreted uncharitably and otherwise treated as if I’ve commited some sort of heresy. Apparently I’ve said something to irritate you in the course of the discussion, if that’s so, my apologies. I was merely trying to make a point about how ineffective and possible counterproductive Paul’s advocacy of Austrian Economics. As I said at the beginning, not only do I have the status of AE in mind with these comments but the good of Ron Paul’s own campaign.

Do you think people are idiots who don’t realize you are trolling ? What about dropping the false politeness ?

It’s amazing that you make this point while ignoring the fact that the more people know about, come to understand, and finally accept the basic tenets of Austrian economics, the smaller governments around the world would be, and the more people’s lives would be saved (if you understand Austrian economics you would accept this to be true, at least at the margin).

Hammering out minuteau in academia isn’t going to spread support for freedom far and wide, at least not in the short run.

So which are you really for, Giles? Are you for a tiny subset of the population truly understanding economics and them and only them spreading the ‘true faith’ to the rest of the world, in which case there is no chance for Austrian economics to become popular anytime soon?

Or are you for spreading its most important insights as far and wide as possible, so that people fight for freedom and bring about a better world now?

I studied econ as an undergrad, and to be honest the only reason I listened to Ron Paul at all was because of his economic ideas - they form the backbone of his arguments for freedom. Without them, he would be just another clueless politician.

For some reason, that’s what you want: Politicians who are not statesmen, who do not advocate for economics unless they have a firm grasp on them. But you and I both know that politicians all advocate for economics, the only question is which kind. Even if they are unaware of the positions they hold, they still hold them. Mostly it’s Keynesian drivel about how spending drives economic growth, so anything that encourages spending (to a point) is good for the economy. They are advocates of voodoo-economics, since that’s not what Keynes actually taught. And it is terrible for a politician to have a decent grasp on a school of economics that isn’t bullshit, right?