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Tuesday, June 28, 2011

Friedrich Hayek For President in 2012

The ever-shifting American populace is temporarily sick of deficit spending and bailouts. Not necessarily because they disagree with the fundamental principles behind them, but rather, they simply don't like what the current economy looks like. So, more and more are jumping on the Paul Ryan bandwagon that says shallow spending cuts will solve everything.

But did anyone else catch this video of John Stossel on Bill O'Reilly, translating Ron Paul's views on Keynesian economic policy for him?

Perhaps it shouldn't have, but this clip completely shocked me.

Bill O'Reilly, a leading political commentator and conservative voice, is wholly unfamiliar with the man the United States bases its entire macroeconomic model off of! How much more so the average American voter!?!?

It's as if we've conceded Keynesian theory as de facto best practice and inarguable economics. Because of that, the current economic debate in this country is overly-simplified and, from a macro standpoint, entirely one-sided.

The 2008 Presidential campaign made Ron Paul a household name. The 2012 campaign needs to do the same for a man who's not running. His name is Friedrich Hayek.

Eric Olsen,
Regular Columnist, THL
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