Unfortunately, his views are embraced by the GOP: Paul Krugman
(NEWSER) - It seems to be Ron Paul's turn in the GOP spotlight, and while he may be a longshot to win the nomination, his views on monetary policy are representative of the party establishment—and they're highly dangerous, writes Paul Krugman in the New York Times . Paul believes in "Austrian" economics, meaning he sees money "printed without being backed by gold as the root of all economic evil." Such thinkers were sure that the Fed's figurative money-printing to shore up the economy would cause huge inflation—but three years later, it hasn't. More»
