Ron Paul has His Hands Full

At a hearing (going on NOW) of the House Financial Services Committee on the Federal Reserve, Ron Paul is dealing with Lacy Clay who in the past called Austrian Economics “unscientific” because it was deductive, a Keynesian Democratic congressman (Keith Ellison) who wants the Fed to inflate more to focus on the “employment” side of the dual mandate, a Friedmanite Republican congressman (Kevin Brady) who wants a “single mandate” of “price stability” (posing, of course, as a free market advocate), and Barney Frank, who defends the “dual mandate” as it is, and even just commended George W. Bush for appointing Ben Bernanke, and defended the Fed Chairman as having been “unfairly criticized.”

Fortunately Paul will be joined soon at the hearing by two of the soundest economic thinkers in the world: Peter Klein and Jeffrey Herbener.  (See their submitted testimonies here.)

Comments

  1. I’d like to see Lacy debunking the Austrian method rather than resorting to vague, mealy-mouthed assertions. What is her evidence for Keynesianism/neoclassicism being “scientific” and what is her evidence for her definition of the term being the only correct one? Arrogant, blind scum.

    Barney Frank is a sellout and perhaps the lowest order of human being alive. A fat, meandering, stupid waste of air.

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