In defense of Peter Schiff’s critics

You read the title correctly: I want to defend Peter Schiff’s critics. In watching the latest Peter Schiff video that Lew posted, a thought came to my mind:

Those of us who have read and appreciated the logic and inherent truth of Austrian Economics forget that the vast majority of people in the world have never read any books on economics, let alone Austrian Economics. That being said, I realized watching the video that all of those people questioning Peter (and giving their contrary views after his interview was over) do not know real economics. The “economics” they know is what they were taught in their Establishment-controlled colleges and universities. From their point of view—a view based on a fallacious economic foundation—they truly believe that they are correct.

Yes—I know that when you and I listen to Peter’s brilliant, cogent explanations we can’t believe that he is not convincing all of the people listening to him. But try to imagine yourself trying to understand what Peter is saying if everything that you have been falsely taught in no way allows what he is saying to jibe with your false body of knowledge. You’d probably say the same “stupid” things (as the late, great Harry Browne once quipped) that those other people are saying to (and about) Peter regarding his economics and world view.

So just remember this the next time you are watching Peter Schiff (or Ron Paul or Jim Rogers, for that matter) being interviewed by an economically-ignorant person or persons. Instead of feeling angry, or shocked, or frustrated, or perhaps even laughing at them, try to feel some sympathy for them. And be grateful that you’re not one of them.