consultants are sandburs

Friday, August 09, 2013

Ein Rand, not Ayn Rand.

Ein Rand, a Rand in English, this brief interview published online by BusinessWeek.

Ein Rand, he gave tightly stated answers, or at least the editing job makes it appear so.

Ayn Rand, she'd have taken 468 pages for the same content delivery, with a bothersome sprinkling too often of, "Who is John Galt?" Bless brevity, even if you dislike flat tax musings:

You’re a big reader of Austrian economists such as Friedrich Hayek and Ludwig von Mises, who don’t believe in stimulus and say the economy can return to health only through austerity.
You can stimulate prosperity by leaving more money in the hands of those who earn it. If you want to stimulate the economy in Louisville, leave more money in Louisville and send less to Washington. My plan has a 17 percent flat tax with very few deductions, and it would leave $600 billion in the economy. But it would work better than a government stimulus because of the Milton Friedman proposition that nobody spends somebody else’s money as wisely as they spend their own. I think you’d have a boom like you’ve never seen in this country.

Who would your ideal Fed chairman be?
Hayek would be good, but he’s deceased.

Examining the Fed, what it does, how it does it, who benefits most, who benefits least - we are overdue for that kind of examination, overdue since 1913 some think.

Bankers run it. Not the public. But the alternative, putting money supply management in the hands of the Treasury, suggest we should trust politicians more than bankers.

Equal greed, lower skill sets, it is hard to say eliminate the Fed entirely, but the suggestion of an audit, a thorough one even rather than a dog-pony audit for show, that is difficult to contest - as is apparent by the Fed insiders doing all they can to ignore and silence the proposal.

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