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Populism as Conservative Economics
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She never was. But, because of recent political and economic events, her ideas are getting
a hearing in conservative circles. This report is my attempt, in the phrase of B-Westerns in the late 1930s, to head these ideas off at the pass.
“End the Fed.” With these words, Congressman Ron Paul has mobilized a small army of political activists who did not know what the Federal Reserve System was in 200⒌
This three-word slogan is the culmination of Austrian School economist Murray Rothbard’s work, which began in the 1950s. People who had never heard of central banking in 2005 now know
that the Fed has been at the heart of the Federal government’s attempt to save the big banks. They do not approve. I certainly share their antipathy.
All of this has increased the demand for Austrian School economics materials as never before. The Mises Institute has benefited greatly.
But the Mises Institute is not the only beneficiary. Unbeknownst to
the vast majority of people who now call themselves conservatives another movement has benefited. It also has been critical of actional reserve
banking. It also has been critical of the Federal Reserve System. It also has published books against the Fed—books that extend back to the days
before the Fed was created by Federal law in 19⒔ This movement is an extension of nineteenth-century Populism, which itself was an extension
of an earlier movement devoted to the creation of a system of pure fiat money, a system run by the Federal government. This movement had
its own political party in the 1880s: the Greenback Party, also known as the Greenback Labor Party. In 1890, this party merged with the
newly formed People’s Party, known as the Populist Party, three years aer the Populist Party came into existence. Congressman James Weaver,
the Greenback Party’s leader, was the Populist Party’s first nominee for President in 189⒉ He carried four states. The most famous spokesman for
Populist Party ideals was the far-le, anti-gold standard politician William Jennings Bryan, who received the Populists’ nomination in 1896, the year
that he first received the Democrats’ nomination. The Populist Party ended aer 1908, the year of Bryan’s third loss as a nominee
Gary North - Personal Name
1st Edition
NONE
Populism as Conservative Economics
Management
English
The Ludwig von Mises Institute
2010
USA
1-47
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