Wednesday, September 9, 2009

NewMajority.com...

...has a review of Ron Paul's new book, End the Fed in which he calls for--surprise!--abolishing the Federal Reserve and returning the U. S. to the gold standard. As much as I want to like Dr. Paul, I'm afraid that this book is an example of everything that is wrong with libertarianism. Forgetting for a minute the merits of his argument (and they can be compelling in the abstract), there's just no way, no how that anyone is going to abolish something like the Fed that has been around for almost 100 years. It just ain't gonna happen. So talking about it is mostly a waste of time. Sure, it's interesting to ponder the possibilities and consider an America without a central bank and I'll even buy the first round at the bar when we do. But Real World problems demand Real World solutions, and they're not going to be found in Utopian ideology.

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