Who’s Regulating Who?

Ron Paul had another great exchange with Ben Bernanke, the chairman of the Federal Reserve on Capitol Hill. Paul provides key insight into core philosophical ideas of Austrian economics and paleoconservatism. I find Paul’s perspective on government regulation quite refreshing, particularly in light of the founders original intent in the Declaration of Independence and the Constitution. Checks and balances (forms of regulation) were put into place for the people to regulate the government, not for the government to do the regulation. As leviathan government creeps towards becoming the creator and not the creation thank goodness for people like Ron Paul who invite us to re-examine the direction our government is headed.

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1 Comment

Filed under Austrian Economics, monetary policy, Paleoconservatism, politics, role of government, Ron Paul

One response to “Who’s Regulating Who?

  1. plato04

    If only people made the link that the central economic planning espoused by the Federal Reserve is responsible for the business cycle (Ben Bernanke certainly made some statements which led in this direction), I think how much smoother the market would run if it ran itself, and the government regulated itself, rather than the other way around. But there is somehow still this mistaken belief that the Federal Reserve’s monetary policies make things much better than they would otherwise be! What a sad reflection on our common economic knowledge and understanding!

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