Today on his radio show is a Peter Schiff interview with bestselling author Tom Woods. He has just released a new book called Rollback. Unfortunately, the United States government isn’t following his advice. However, it doesn’t matter, because the numbers just don’t add up. The book is more for people who want to reflect on how we got here in the first place.
Every time something bad happens, the government blames it on a lack of regulations, which they use as a justification for passing more regulations. This is a pattern that repeats over and over. Whenever you have a mix of socialist and capitalist policies, it is always capitalism that gets blamed for everything. People point to deregulation the cause for the problems, but often the regulations balance each other. One regulation is like the gas, and the other is the brake. If you take one of them away, then major problems can occur. This isn’t what we mean when we speak of deregulation. In this Peter Schiff interview, it is explained that we need true deregulation.
There are quite a few schools of economics in the mainstream, but the only thing that they debate is how to manipulate the money supply. Austrians aren’t even allowed into the conversation. That is beginning to change since Austrian economists can reach individuals through platforms like the Internet. They still aren’t getting the airtime on the mainstream networks, but hopefully that will begin to change as more people get on board with this perspective.
People like Paul Krugman will sometimes talk about the Austrian perspective, but he uses language in such a way to try to discredit it as he explains it. He has been corrected on this so many times that it is hard to believe that he is being intellectually honest. The second half of this Peter Schiff interview with Tom Woods will be posted tomorrow.