By Ben Cohen
An interesting exchange between Ron Paul and Ben Bernanke:
I don’t subscribe to Paul’s model of ideal capitalism, but his criticism of the current economic model isn’t wrong. Pumping money into banks hasn’t done anything so far other than drive up the national debt and set a path for increased inflation. I think Paul is wrong to subscribe Bernanke’s policies as Keynesian as he has simply thrown money at banks without asking for anything in return. Keynes advocated government stimulating the economy by spending on things like infrastructure, but it certainly requires accountability and a clear goal for increasing domestic production. Regardless, Bernanke’s model is clearly a complete failure.
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.