Saturday, April 19, 2008

Has Capitalism Failed? (Ron Paul)

Ron Paul gives an emphatic "no" to that question in this 2002 speech, and concludes that the state and its fiat currency are to blame for our economic woes:

It is now commonplace and politically correct to blame what is referred to as the excesses of capitalism for the economic problems we face, and especially for the Wall Street fraud that dominates the business news. Politicians are having a field day with demagoguing the issue while, of course, failing to address the fraud and deceit found in the budgetary shenanigans of the federal government — for which they are directly responsible. Instead, it gives the Keynesian crowd that runs the show a chance to attack free markets and ignore the issue of sound money.

Read the rest, or listen to the MP3 audio version.

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