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Home | Mises Library | End the Fed

End the Fed

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Tags The FedU.S. EconomyPolitical Theory

09/16/2009Ron Paul

A blast against central banking this powerful hasn't been seen since the 19th century. The Fed itself has never been subjected to such a whithering critique. And it is from a man who has been fighting the Fed his entire political career. in fact, several chapters here provide documentary evidence of Congressman Paul's own verbal exchanges with Chairman Greenspan and Chairman Bernanke.

What is especially impressive here is that Paul's book goes far beyond old-time populist attacks on the banking elites. He understands Austrian theory as well as anyone, and he has learned from Mises and the whole of his tradition. So here we find patient explanation of the workings of the Fed and how it has distorted the legitimate business of banking, through every manner of intervention.

The political analysis in here is sound but expected. The theoretical analysis is the robust part, and something that few politicians in U.S. history could have provided. In this sense, Ron Paul is unique: courage in public service combined with intellectual rigor. This combination has made him a machine in opposition to the Fed, and this is by far his best presentation of the subject.

Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
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