Friday, August 1, 2014

Rand Paul Pulls Out Alan Greenspan's 'High Philosophical Discussion' Defense

The great libertarian Murray Rothbard once called out Alan Greenspan for his alleged "high philosophical" advocacy of  laissez faire. It is, of course, a phony lassiez faire advocacy that justifiably galled Rothbard. It is a "high philosophical" advocacy that is never meant to touch the planet earth. Wrote Rothbard in 1987:
Greenspan's real qualification is that he can be trusted never to rock the establishment's boat. He has long positioned himself in the very middle of the economic spectrum. He is, like most other long-time Republican economists, a conservative Keynesian, which in these days is almost indistinguishable from the liberal Keynesians in the Democratic camp. In fact, his views are virtually the same as Paul Volcker, also a conservative Keynesian. Which means that he wants moderate deficits and tax increases, and will loudly worry about inflation as he pours on increases in the money supply.

There is one thing, however, that makes Greenspan unique, and that sets him off from his Establishment buddies. And that is that he is a follower of Ayn Rand, and therefore "philosophically" believes in laissez-faire and even the gold standard. But as the New York Times and other important media hastened to assure us, Alan only believes in laissez-faire "on the high philosophical level." In practice, in the policies he advocates, he is a centrist like everyone else because he is a "pragmatist."..Yes, the Establishment has good reason to sleep soundly with Greenspan at our monetary helm. And as icing on the cake, they know that Greenspan's "philosophical" Randianism will undoubtedly fool many free market advocates into thinking that a champion of their cause now perches high in the seats of power.
Guess who just joined Alan Greenspan's "high philosophy" approach to freedom? Rand Paul.


No comments:

Post a Comment