As I understand it, Ron Paul is more or less in favor of economic individualism and laissez-fair capitalism. He hasn't specifically said so, or I've yet to hear it from him, but I think he does advocate it. Laissez-faire essentially translates to "let it be" and the gist of these policies is that the people run the system; let the free market grow and produce goods and have free trade... let individuals pursue selfish interests so long as they do not infringe upon the rights of others.
Well, that sounds fine and dandy to me. I'm not an economics person, but I think I can understand a theory that is good and doable. However, I was talking with someone that warned against aristocracies and corrupt monopolies forming as a result of these policies... if there are no regulations on small businesses and on corporations, they'd just grow bigger and bigger. But I had to laugh at that. Don't we already have that problem? Aren't there already wealthy elites in power (private owners of the Fed, I'm looking at you)? Hasn't someone already granted corporations the same rights as an individual? Seems to me that whatever regulations we've put on corporations we've also counteracted by giving them human rights. Obviously, corporations are run by people, but are not themselves people. We'd have punished them a long, long time ago if they really are people.
Though I'm not exactly sure what kind of economic government we do have. It seems to operate under a general capitalistic ring, but I'm feeling obvious socialist undertones. The income tax smacks of it. Throw in some Orwell control, and that seems to be what we're living with now. So I wanted to ask what your views are on what Ron Paul proposes for our economic system. Do you think laissez-faire could lead to rich elites in wealth and corrupting the free market? Or do you think it will more or less run itself if we let it be (so long as people don't infringe on rights)?
The interesting thing about this proposed economic system is just that: it has only ever been proposed. No genuinely free market system has existed, according to research I've done. Maybe we should give freedom a shot, eh?