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Ron Paul Explains the Importance of Mises and the Austrian School

Mises and Austrian Economics: A Personal View by Ron Paul [.pdf]

The economist's approval of the market for purely utilitarian reasons actually becomes a more "objective" analysis if not approached from a natural rights standpoint. But when combined with a natural-rights philosophy, it is even more powerful. No choice must be made. The utilitarian argument does not exclude the belief that life and liberty originates with the Creator. When they are added together they become doubly important.

When one argues for the free market on utilitarian grounds, one starts with particular actions by the individual. In starting with a natural rights argument the "a priori" becomes "the gift of life and liberty" as natural or God-given.

The utilitarians may be neutral or antagonistic regarding the origins of life and liberty, but this in no way weakens their explanation of the technical advantages of a free economic system. However, those who accept a natural rights philosophy have no choice whatsoever but to accept laissez-faire capitalism.

Thanks to Allan Holm for the link.

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  1. Posted by Alex | November 23, 2007, 2:38 am
  2. zionists for ron paul :) pfft

    Posted by Anders | November 23, 2007, 11:03 am
  3. That’s an interesting interview. It’s refreshing to hear zionists say that Israel being America’s welfare/military bastard child is a bad thing. But that other crap about for Israel to comprimise being unacceptable and restoring the Kingdom of Israel is scary. It sounds just like what they accuse the “terrorists” of saying about them.

    Try telling that to the neo-cons and their heads would explode.

    Posted by August | November 23, 2007, 6:24 pm

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