Re: Austrian & Keynesian Theories Vs. Mathematical Facts
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Ron Paul is an absolute austrian. I doubt you’ll find any argument from anyone on that matter, including Ron Paul.
You didn’t ask for an “austrian economist” just an austrian, and Ron Paul is cleary an austrian and has studied the austrian garbage.
And Yes Ron Paul believes that “artificially low interest rates” is the problem. If that is the problem lets fix it by raising the interest rates to 900% and that should fix the economy right? Ron Paul’s solution is to have the people borrow money from the banks at higher interest rates. He’s not shy about making that claim.
The biggest point Ron Paul misses is that there is no “spending” of money into circulation, there is only loaning of money into circulation. The government creates no money at all. Today the only creators of money is the banking system and there is no such thing as debt free money under U.S. Law.
Why should a government who has the ability and authority to create money ever borrow in the first place?
I do happen to think Ron Paul is a decent man, who i agree with on most things, but on the subject of monetary policy I disagree with him.
This whole argument of mises vs keynesian misses the whole point of debt vs wealth. I owe the money vs I own the money. Debt Slavery vs Financial freedom.
What we should be discussing is debt money vs wealth money something Ron Paul simply will not touch.