Recently by Thomas DiLorenzo: The Sales Tax Price-Fixing ConspiracyAct of2013
A couple of years ago when I appeared as one of Ron Paul’s witnesses (the first one, actually) during his House of Representatives hearings on the Fed, the Democrats got the biggest leftist on the committee to smear, libel, and slander me by repeating the smears, libels, and slanders about me (and virtually all other libertarians and conservatives) by the left-wing hate group known as the Southern Poverty Law Center. The hate group’s typical line is this: 1) DiLorenzo wrote a book critical of Lincoln’s economic policies; 2) Therefore, he must want to bring back slavery. Since we now live in a nation of morons, the SPLC is able to raise millions of dollars in contributions from below-50-I.Q. liberals and leftists with such smears. “Send us money and we will keep an eye on these people,” they say. (This is the same group of communistic crackpots who convinced Big Sister Janet Napolitano to publicly announce that people with Ron Paul bumper stickers on their cars may be considered potential terrorists by her Department of Fatherland Security).
Paul Krugman participated in this libelous smear in one of his NY Times columns, labeling me Ron Paul’s “Johnnie Reb economist.” (I prefer that to “politico-journalistic whore”). He said nothing at all about my critiques of the explosion of economic statism during the Lincoln administration, the focus of all my writings on the subject. Instead, he played along with his fellow totalitarians and their meaningless “Neo-Confederate” blather.
But in a recent blog Krugman proved once again what a fraud and a liar he is by writing that “Lincoln was actually a big government interventionist” whose “most dramatic departure from standard economic policy was . . . debasing the currency.” This means that when he participated in the Southern Poverty Law Center smear of yours truly he was obviously cognizant of the fact that libertarians like myself and Ron Paul are critical of Lincoln not because we want to bring back slavery (!!) but because, as Krugman says, he ushered in big-government interventionism and the debasing of the currency with his National Currency Acts and Legal Tender acts.
The purpose of all the over-the-top smears, as outlined in Saul Alinsky’s Rules for Radicals, the “bible” of Obammunists like Krugman, is to censor public criticism of healthcare socialism in particular and Big, Out-of-Control Government in general.
In a recent blog Democratic Party propagandist Paul Krugman claimed that after the Lincoln administration nationalized the money supply with its National Currency Acts, Legal Tender Acts, and the creation of the greenback dollar, "nothing bad happened" during the years when the gold standard was abandoned in the late nineteenth century.
The economics profession knows better. In a scholarly article entitled "Money versus Credit Rationing: Evidence for the National Banking Era, 1880-1914," by Michael Bordo, Peter Rappoport, and Anna Schwartz (in Claudia Goldin, editor, Strategic Factors in Nineteenth-Century American Economic Growth, Univ. of Chicago Press, 1992), the authors concluded that the period of time referred to by Krugman:
". . . was characterized by monetary and cyclical instability, four banking panics, frequent stock market crashes, and other financial disturbances." Krugman has a very unique definition of "NOTHING bad."
Thomas J. DiLorenzo [send him mail] is professor of economics at Loyola College in Maryland and the author of The Real Lincoln; Lincoln Unmasked: What You're Not Supposed To Know about Dishonest Abe, How Capitalism Saved America, and Hamilton's Curse: How Jefferson's Archenemy Betrayed the American Revolution — And What It Means for America Today. His latest book is Organized Crime: The Unvarnished Truth About Government.