Ron Paul Derided for Knowledge of Austrian Economic Theory

Ron Paul Derided for Knowledge of Austrian Economic Theory

I had read a recent article in which a journalist described Ron Paul’s economic understanding as skewed, flawed, quirky and mistaken. Yet, the person had no understanding of economics and was totally ignorant of the Keynesian theory upon which our current monetary system is predicated and the implications for the way human error and frailties manifest themselves in such a system.

 This person has no understanding regarding the flaws and inherent contradictions built into Keynesian economics and hence have no understanding of the business cycle. She continued to believe the advice and ideological assertions of those who never saw the current economic crash coming. The Keynesian experts refused to accept the Austrian economists analysis that proved not only to be correct, but that also accurately predicted, explained and then narrated economic inevitability. Upon all the predictions made by Austrian theorists coming to fruition, many still refused to accept reality and continued to cling to the established statist orthodoxy that postulates  government can provide productive jobs and ensure wealth creation. These people refuse to acknowledge the flaws in a Keynesian system and then revolt against reason by trying to redefine human nature and rationalize cause and effect to fit their ideology.

 The people who refuse to accept, understand or even acknowledge the existence of Austrian economic theory, either through sheer ignorance or willful ignorance, understand less than half of their own argument and so have no business speaking, let alone influencing others, as to what they think is the correctness of their economic understanding and arguments.   Ron Paul had often led Greenspan and Bernanke down the Socratic path of understanding forcing both to close by making statements that ended up demonstrating the strength of Austrian arguments.  Yet, a journalist listening to a sound bite without any other frame of reference who then tries to make sense of economic truths that are juxtaposed against an entire system based on statist lies would have as much chance of discerning  truth from such a situation as one would have at determining what is right based upon the amount of military might a party has to support imperial conquest.  It has long been recognized that those who believe such absurdities can be made to support atrocities.   Austrian economists understand that such a proposition is as likely to lead to truth as was Stalin praising free markets during a Politburo meeting.  There are those who benefit from the current system and know the truth, but one should not expect to hear any truths from those quarters.  As Rothchild said, ” “The few who understand the system, will either be so interested from it’s profits or so dependent on it’s favors, that there will be no opposition from that class.”  The deliberate lies of those who gain from a Keynesian system at the expense of others further masks the truth as their Keynesian ideology pollutes the very study of economics.  Thus, the refusal to accept economic laws and logic or even investigate Austrian economic theory itself makes taking corrective action an impossiblity.

To understand how Keynesian theory fails, you have to understand economic history. But, as important as economic history is to gaining understanding, you have to understand how government failed humanity throughout history and be honest in appraising as to the costs of these failures in the destruction of wealth, loss of liberty and slaughter of humanity.

If one takes into account the rise of empires and all their attendant evils that lead to inevitable collapse, not as a partisan to a winning or losing side but as one who documents destruction of property, wealth and lives, the tyranny that results, the reallocation of resources for the purpose of the destruction of wealth and the crimes against humanity that occur as a result of the leviathan state, one ought to come to the conclusion that our current system is fatally flawed and only works by the wheels of the system being greased in human suffering, exploitation and blood. The individuals of the political class who argue against Austrian economics are the very people who use theft, human suffering and death to keep the empire’s wheels smoothly spinning.

 Those who work in the media are not geniuses. They earn their living serving power. They did not become engineers, doctors, physicists, inventers or entrepreneurs. Journalists work for people who own business interests and expect those interests to be served and furthered by those in their employ. The journalists serving their masters are so inured by the system that they fail to even recognize how they are controlled and manipulated or the way debate is kept within a certain framework and limits for the purpose of preventing any crisises in democracy or jeapordize societal control by the power elite.

 These people who become stenographers to the elite, writing for the purpose of telling us what to think and believe, do not analyze economic history, understand much regarding war and generally believe as they are told regarding history, war, economics, government and human nature. These people are the antithesis of free and critical thinkers and are usually eager to assist in stifling inquiry and mocking that which they do not understand. Those who truly understand government know that the version of events given by government are a caricature of history and are merely used as part of an indoctrination process and system the state ironically calls education.

Mises’ “Human Action is over 1,100 pages and Rothbard’s “Man, Economy and the State with Power and Market is over 1,400 pages. All educated individuals recognize both men as geniuses. So, to not understand what they had to say nor share in their ability to know, understand and analyze human and economic history from which they derived their conclusions leaves journalists to do little more than bear their behinds in an exuberant display of ignorance with all the understanding and inherent intellectual value of a rude, misbehaving 10 year-old child mooning an adult trigonometry professor.

 If you do not understand praxeology and refuse to accept the fact that no mathematical model can account for the complex decisions of billions of people all acting through trillions of decisions involving information that is unknowable to any central planner, you are a hopelessly lost individual. If you are ignorant of all the implications of catallactics as it relates to exchange ratios regarding time, labor, interest, buying, selling, borrowing, lending, producing and consuming, you have no right to engage in adult conversation and ought to stick to writing gossip for the ignorant masses. If you do not understand that all government intervention into the market is based on violence, coercion and tyranny, you will never be able to correctly identify why statism fails. It is truly a sign of ignorance for one who shows no shame for that ignorance, which explains why some journalists can continue to engage in ad hominem attacks against someone like Ron Paul who seeks to discuss philosophy and ideas.

 Peoples’ perceptions are skewed by a statist paradigm that provides them with as accurate an assessment of reality as that of a rating agency assessing the risk and value of collateralized debt obligations during the housing bubble. People see money and think paper has always been money. But, when one learns that until recently paper had never been money, and all attempts to make paper into money throughout history have failed, a thinking person begins to make closer examinations in an attempt to understand market phenomenon. Those who refuse to do so will never foresee second and third order effects with all the unintended consequences that occur when economic policy is mixed with human nature, hence Austrian economists account for humand nature by describing praxeology.

 Before a journalist decides to place derision upon that which he has not thought much about and for which he understands even less, he ought to consider that of what our founding fathers warned with regard to central banking. Robert H. Hemphill, a member of the Federal Reserve, stated, “It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon.”

 Libraries are filled with history –mostly lies, being made by kings -mostly knaves, and military men –mostly fools.   But, most conquering genocidal maniacs inevitably end up letting their contempt for humanity be displayed not only in deed, where rationalizations can cover intent, but by their words.  Such individuals usually end up convicting themselves, and it is during such revelations that people should gain a modicum of moral clarity and understanding as to injustices that lead to the horrors resulting from crimes being inflicted upon humanity by tyrants. It is during such times one comes to the realization of the fact that the evil of immorality is dwarfed in consequence by amorality

 Those who refuse to investigate and understand economics from the perspective of history and war are the ones that can be seen rearranging deck chairs on the Titanic.