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Source link: http://archive.mises.org/8140/challenge-to-america-a-current-assessment-of-our-republic/

Challenge to America: A Current Assessment of Our Republic

May 23, 2008 by

Ron Paul writes:

The cliché “Third Way” has been used to define the so-called compromise between the conventional wisdom of the conservative and liberal firebrands. This nice-sounding compromise refers to the noisy rhetoric we hear not only in the US Congress but also in Britain, Germany, and other nations as well. The question, though, remains: Is there really anything new being offered? The demand for bipartisanship is nothing more than a continuation of the Third Way movement of the last several decades.

The effort always is to soften the image of the authoritarians who see a need to run the economy and regulate people’s lives, while pretending not to give up any of the advantages of the free market or the supposed benefits that come from a compassionate-welfare or socialist government. It’s nothing more than political have-your-cake-and-eat-it-too deception. FULL ARTICLE


Bruce Koerber May 23, 2008 at 6:09 pm

Critics of Ludwig von Mises attacked him for being uncompromising.

Ron Paul is carrying this same torch of principle over relative morality.

The interventionists have numbed our senses so that truth is subjected to manipulation rather than valued for what it is. The intellectually lazy and the ego-driven are the only ones who would wish for a world without any connection to its reality, which happens to be, in essence, truth.

LAUSDTeacher May 23, 2008 at 6:43 pm

so did the big crash that he predicted to occur before the 90′s actually occur? or did something happen that allowed the economy to still grow and credit to expand further, which is causing the deep recession that we’re in now?

Eric May 25, 2008 at 12:10 am

The economy sure got stunted in the early 1990′s – but I believe that the tech expansion and productivity gains in many industries helped stave it some. Government and false monetary expansions also occurred and their consequences are currently being felt – still lingering from the 2001 economic contraction.

The free-fall continues at a high pace currently. How far will it go and can it be enough to reset our thinking enough to get back into sound economic policies without bloodshed?

Eric(2) May 25, 2008 at 2:22 pm

Not sure which “big crash” LAUSDTeacher is talking about, but this article was written in 2001, and it certainly explains the boom of the 90′s, and the bust that followed. Today we are repeating this. But there are many other factors, such as the increases in world trade whose division of labor boosts our real productivity. The holding of Federal Reserve debt by China and other countries is a factor. Trouble is, there are no accurate differential equasions that can be used to predict the exact course of future history.

Austrians admit they have no crystal ball and so many factors contribute to the final result. They cannot predict with accuracy the dates of the bust or how exactly the new inflation to “cure” the last round of inflation will finally work itself out. They can only speak of patterns that often repeat.

After all, if Austrian economists could put exact dates on their predictions, then how could they account for the fact that humans will act on this source of future information, which would affect the predictions, which would affect human action… and so on recursively repeating the loops of cause and effect.

Austrians don’t subscribe to Asimov’s pyscho-history from his Foundation stories. But even Harry Seldon was wrong sometimes.

Dissapointed May 25, 2008 at 5:19 pm

Nice. Statists like RP have finally conquered mises.org
So much for liberty…

NM June 13, 2008 at 3:13 pm

Dissapointed: RP is a statist?!?

The better question is what are you smoking?

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