Is Ron Paul a Serious Contender?


Even the most right wing of economists will tell you that some government intervention is necessary in order for capitalism to succeed. Capitalism requires free and fair competition. True capitalism is anti-monopoly and anti-big business whenever big business is allowed to profit unfairly at the expense of small business.

Ron Paul is a career politician and gynecologist from Texas who’s been a mainstay presidential candidate since the 1980s. He claims to support basic capitalism and economic libertarianism. In actuality, many of the views he advocates more closely resemble anarchy.

He’s got a large and devoted following among young internet users who largely do not appear to understand economics very well. He’s also been called a darling of the Tea Party, although Tea Party members appear more willing to support Sarah Palin, Michele Bachmann, or Herman Cain.

Among Paul’s wackier views are the complete abolition of the Federal Reserve Bank, the FBI, the CIA, and most government agencies. He apparently is not anti-monopoly, believing that monopolistic entities should not be regulated or prevented by government intervention. However what Paul and many of his supporters seem to not understand is that a monopolistic business is no different than a monopolistic government or monopolistic political party. All can be considered more a form of socialist domination over a market than anything economically libertarian.

To ensure capitalism prevails, we must ensure that competition exists in all markets. The government, in many cases, is in the best position to do so by strictly enforcing current antitrust regulation.

With that said, and given the American public’s general view of Paul as being unelectable, can we consider Ron Paul serious in his aspirations to be president? Or is he just attempting to bring awareness to failing aspects of our government by playing Devil’s Advocate to an extreme?

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24 Comments

  1. The only reason that people say he is unelectable is because people like You keep writing articles like this. Of course Mr. Ron Paul is electable, that is why he has won his Congressional seat 12 times. That is why he wins straw polls. That is why he can make a million plus dollars in a day for campaigning. That is why he is nominated, currently, by TIME magazine as the 14th most influential person in 2011. Need I go on?

    He speaks a brutal truth, which makes some uncomfortable. But You know what? WE THE PEOPLE ARE OUT OF MONEY. And if anybody expects any sort of social security, medicare, medicaid, etc, Mr. Ron Paul is the only real answer with how he would get 100’s of billions to shore up the afore mentioned programs. And unlike all the other candidates for 2012 so far, Mr. Ron Paul would get that money via CiC and not through some silly tax or restructuring so it would be almost immediately and WOULD happen.

    I digress, Mr. Ron Paul is very electable.

    Thank You for Your time

    Ron Paul 2012

    • Thank you for commenting. I don’t doubt that Dr. Paul has his supporters. He clearly does. But winning a random Congressional seat is very different than winning a national presidential election or even the GOP nomination. He’s too old, for one. But even without considering that, many of the things he says are simply not rational. In an ideal world, OK, sure, he may have some good ideas, and I’ll be the first to admit our federal government is a mess. But abolishing all government agencies and the Fed in the name of freedom? It’s absurd. His claims to be a libertarian are also questionable. He opposes abortion, he’s homophobic, he’s possibly a racist. He just seems to be a hard-right conservative career Texas politician to me.

  2. I agree 100%

  3. Right on!

  4. I never thought of it that way, well put!

  5. Thank you for a great post.

  6. Thank you for a great post.

  7. I agree 100%

  8. I didn’t know that.

  9. I never thought of it that way, well put!

  10. I didn’t know that.

  11. Good points

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Trackbacks

  1. On Ron Paul & Fiscal Policy « econprofessor
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  5. Is Herman Cain America’s Next President? « Econoblog
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