Vox Day posts an interview with Rep Thaddeus McCotter (R – MI), who so forcefully challenged the bailout bill. In it he claims to be a “Röpke guy”. When asked why there’s so much support in Congress for the Fed he again goes to Röpke:
I think that the argument that is made is probably because, as Roepke pointed out, people seem to think that inflationary periods are quite pleasurable until they realize that there’s a deflationary period to match it when the market corrects itself. Plus, the more government under the Keynes model has a role within people’s economic lives, the more important government is, the more powerful it is. In short, you’re asking people to refrain from using their publicly entrusted subservient positions, as members of Congress or members of the government, from interfering in a marketplace to make themselves popular for a short period of time.
Filed under: Uncategorized , Bailout, Economics, Politics, Röpke
