Al68 said:
Again, you have provided no quote to refer to, and using an entire book as reference for a claim on PF is a very impractical substitute.
I listed a source. It's a short book. if I had it with me, I would quote it, but I had taken it out of the library to read.
The Fed is a government created enterprise organized as a private corporation. But as a practical matter, it is under the control of government.
The Federal Reserve is a hybrid institution. It is not a standard private corporation nor is it a nationalized central bank.
I have never heard Paul say otherwise, and you have not provided any evidence that he has.
I never said he thinks it is (although I wouldn't be surprised at all as he keeps claiming it needs to be audited). His fans all sure believe it is however. And G. Edward Griffin, who wrote the book
The Creature from Jekyll Island (which Ron Paul praises) thinks it is.
Calling an idea "extreme" has no value in honest discussion. Explaining why you disagree with a policy Paul advocates would be.
He wants to shrink the government to an 1800s level for a 21st century nation. That's pretty extreme. We had very few, if any, labor laws, regulations, no social safety nets, etc...whatsoever in the 1800s.
That's not "Paul's idea", that's classical liberalism. And again, what specifically about the 21st century makes it incompatible with classical liberalism? What justification for restricting economic liberty exists today that didn't exist in 1844?
What is the point of your comparison between the 21st and 19th centuries?
There is nothing about the 21st century that makes it incompatible with classical liberalism. But the definition of classical liberalism that fit the 19th century does not fit the 21st century. It didn't really fit the 19th century either, it's just people had to deal with it then.
You say that economically, classical liberalism means that the private economy is free from government interference and control. Well how does one define what that is exactly though? The ideal of a private economy with literally no government interference of any kind is a fantasy. You have to have some degree of regulation, you just want it to be as light as possible, not overly-burdensome.
Otherwise we'd end up with corporations working people literally to death, no worker rights of any kind, industry polluting as it pleased (companies used to dump gasoline into the rivers), in the 1950s, I forget which river, but it even caught fire from all the pollutants in it, they had to clean it up, there was a tremendous level of corruption it was discovered that had occurred after the 1929 crash within the financial system, etc...so regulations to some degree are required.
The idea of classical liberalism as it might have fit the 19th century is incompatible with the 21st century. The idea of classical liberalism for the 21st century is you want the government to mostly keep its paws out of the economy and regulate to the degree necessary, light and efficient regulation basically. Paul however seems to want the 19th century variety. He said he would like to shrink the government to the point where there is no income tax required.