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A Simple Lesson in Economics from “Doctor No”

By J. Edward Nelson

I recently came across this short video clip from the Republican presidential primary debate, which took place at the University of New Hampshire on September 5, 2007. In the debate, 2008 presidential candidate Congressman Ron Paul explains to a panel of Republican candidates, as well as the national audience, why gas prices had more than doubled at that time.

This video reminds me of why I became such a big admirer of Dr. Paul (formerly a practicing physician, whose adherence to limited government and sound money principles has caused many in the media to give him the moniker “Doctor No”) and frankly, why I quickly came to identify as a Libertarian.

I watched a majority of the 2008 presidential debates – both Republican and Democrat – and no other major party candidate, in my opinion, could articulate his or her thoughts concerning the economy, the national debt, which he predicted was unsustainable foreshadowing the eventual economic collapse, the wars in Iraq and Afghanistan, our monetary system, and the Constitution, just to name a few, with the expertise that Congressman Paul was able to do every time he stood within the glare of the national spotlight.

At the time, I hadn’t ever witnessed a living politician speak so candidly, with such common sense and explain complex issues so simply.  Nor seen a more unassuming public figure attain a near cult-like following from discussing, of all things, the U.S. Constitution.

The numerous postings of “Doctor No’s” videos on youtube have caused many Americans to agree with the above sentiment, and hope that he will not be the last politician which so many can legitimately hold in such high esteem.  His son, Rand Paul, also a medical doctor, is running for a 2010 Senate seat in Kentucky.



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