In his 1974
Nobel Prize address, the late Austrian economist Friedrich von Hayek
attacked the pretense of knowledge, the idea that policymakers have
sufficient knowledge and power to shape society as they wish. Our
political leaders failed to take Hayek's message to heart, as succeeding
generations have continued to allow this intellectual arrogance
to continue unabated. Just as the New Mandarins squandered America's
wealth, resources, and young men during the 1960s, today's economic
Mandarins seem hell-bent on destroying every last vestige of the
free market and driving the economy into ruin. Congress has abdicated
its oversight over these "expert" economists at the Federal
Reserve, to the detriment of the economic well-being of the American
people. Despite overwhelming grassroots support behind auditing
the Fed, only incremental progress has been made toward unmasking
the Federal Reserve's activities. Full transparency of the Fed's
operations remains an elusive goal, but one towards which I intend
to devote my remaining time in Congress.
LewRockwell.com
Ron Paul
No comments:
Post a Comment