Paul vs Paul: Do You Support Libertarian Ron or Progressive Krugman?
I like to learn from both Paul Krugman and Ron Paul. That's why I particularly liked the interview shown below. First, though, here's the list of items they talked about:
|Ron Paul||Paul Krugman|
|Supports a small federal government.||Supports a big federal government.|
|Free markets working in a natural way with minimal regulation.||Likes free market but supports substantial regulation of it.|
|Governments are not supposed to run the economy.||You can't leave the government out of monetary policy. The Central bank will always be in business of managing the money.|
|Government manipulation of the economy causes great fluctuations.||An unmanaged economy is subject to great fluctuations|
|The Great Depression was caused by Federal Reserve.||The Great Depression was a result of a free market economy run amok.|
|Inflation is theft from people who are trying to save money.||A little bit of inflation is healthy.|
|After World War II, the economy improved due to a return to freer market principles.||After World War II growth the US economy money management, including mild inflation and strong government regulation.|
|Ron likes some of the principles Milton Friedman stands for, dislikes others.||Krugman thinks Milton Friedman would be on the left of the political debate today.|
|Wants to end the monopoly on money that the Federal Reserve has.||Thinks the Federal Reserve does a great job managing the US economy.|
|Believes in the viability and healthiness of a gold standard.||Thinks the gold standard is outdated.|
|Thinks the Federal Reserve was the primary cause of the 2009 Great Recession.||Thinks private individuals were the primary cause of the 2009 Great Recession.|
|Thinks an economic catastrophe could happen at any time with our level of debt, particularly because other countries have less trust and respect for our dollar.||Thinks US is nowhere near an economic catastrophe with our level of debt.|
|Federal Reserve and Central banks are ideas that came about in the modern era||The idea of central money management has always been a good idea.|
Below is a video of the full interview.
I think they both did a great job representing their own views. I, however, identify more closely with what Ron Paul stands for. What's your opinion?