Posts Tagged ‘great depression’
Thomas Woods, historian and libertarian author, discusses the New Deal. He argues that government intervention into the economy creates more harm than good.
One of my friends on myspace is a very serious Liberty supporter. He recently forwarded me an email that he sent to Congressman Childers (who voted for the recent stimulus). I thought I would share what he wrote.
Congressman Childers, I have read your statements on why you voted on the stimulus package. I’d like to point out that you and many of your colleagues are ignoring the fact that using inflation as a means to prop up government spending is not only irresponsible, it’s also highly unethical. You are forcing people to accept the burden of your actions by further deliberate devaluation of their money. If you are concerned with the well-being of our state, why saddle us with the detrimental effects of inflationary monetary policy? The new administration is repeating the mistakes of Hoover and Roosevelt, and seeking government intervention as a means to alleviate our economic woes. Keep in mind that the crash of 1919 was handled much differently (no government intervention) and the economy was back on track in no time. It was this sort of intervention that prolonged the Great Depression. We are being led into the fire by Keynesian economists, who are just as wrong today, as they were in that time. The economists who truly understand this crisis come from the Austrian school of economic thought (Ludwig von Mises, Murray Rothbard, F.A. Hayek). President Obama is not an economist. He gets bad advice from Keynesians and he is repeating the mistakes of the Great Depression. If you care about the well being of Mississippians, please take a few moments to look into the Austrian theory of the business cycle and the wisdom of these economists, before it’s too late. If you discover truth in those writings, you can contact one of your colleagues in the House if you want to learn more– Dr. Ron Paul of Texas.