Ron Paul's economic policies are superior to Barack Obama's economic policies.

It would be improper to analyze economic policies before analyzing the base from which those policies stem. Ron Paul’s economic policies stem from Austrian Economics whereas Barack Obama’s economic policies stem from Keynesian Economics. I’ll preface the distinction by noting that The predominate Keynesian School is responsible for the current state of the US economy; this alone is a strong argument to listen to the Austrian School. Austrian School: Economics that stems from human behavior (Praxeology). It champions sound money, free markets, private property, and the liberal society. Sound money is the return to the gold standard instead of continuing this cycle of inflation the federal reserve creates. The free market is the efficient solution to deleterious government intervention. Private property leads to efficient, rational economic calculations. The liberal society is one that values civil liberties. Austrian School economists like Peter Schiff and Ron Paul predicted the housing bubble’s collapse and the economic crisis[1,2,3], but the Austrians have predicted The Great Depression and Stagflation as well. Keynesian School: Interventionist “economics” that stems from John Maynard Keynes’ views. It stresses spending during recessions (which keeps economic bubbles partially inflated), the insignificance of deficits (see Greece and Portugal)[4], economic stimulus (printing money), domestic foreign and corporate welfare, warfarism, and central banking[5]. Since Keynesianism is responsible for the economic failures of numerous countries globally, Peter Schiff characterized it like so, “Keynesians are to economics what witch doctors are to medicine. ” That’s because Keynesianism is not scientific, but Austrian economics is[6]. Ron Paul thinks the government’s role in the economy is this: provide sound money that holds its value, protect consumers from fraud and unsafe products/services, and provide conditions that foster genuine economic growth. Contention 1: Ron Paul is pro-small business and pro-job creation. Dr. Paul is pro-small business and would create many jobs. Increased small business opportunities are correlated with increased employment. Ron Paul would create an environment conducive to small business growth. It is very difficult to be successful as a business owner in this country, because the government has made it so difficult through taxes, regulation, and legal threats. Ron Paul would make it simple and profitable to open a business. He would take several steps:1. Establish sound fiscal policy by presenting budget surpluses every year. It’s much better to have savings for rainy days than to incur debts and pay off the debts with borrowed money.2. Establish sound monetary policy. The government must allow our bubble economy to fully deflate. Asset prices, wages, and spending must fall, interest rates, production, and savings must rise. Resources, including labor, must be reallocated away from certain sectors, such as government, services, finance, health care, and educations, and be allowed to into manufacturing, mining, oil and gas, agriculture, and other goods producing fields. Remember, savings enables capital investment which drives genuine economic growth.3. Decrease regulations. a) Abolish the minimum wage. This artificial limit encourages employers to look to minimize hires and to automate wherever possible, because it is illegal to hire below that wage. It also decreases the total amount of wealth creation. Singapore has no minimum wage, yet it has higher wages due to its freer economy. b) Abolish extended unemployment benefits. Unemployment benefits over time become more of a disincentive to employment than anything else, discouraging productive economic growth as it is only until the benefits run out that the person looks for work. This also increases economic deadweight loss as money is being diverted to these people with no productive output. c) Repeal all laws mandating employment terms such as work place conditions, over-time, benefits, leave, medical benefits, etc. Rules imposed from the top create inefficiencies that limit employment opportunities. Thus, decreasing a small businesses ability to expand. d) Repeal all Federal workplace anti-discrimination Laws. The fear of litigation, and the costly judgments that can ensue, are real. Given that it is nearly impossible for an employer to control all the aspects of the workplace environment, litigation risk is a tangible consideration that decreases a small business’ profitably hence its ability to remain entrenched.4. A simplified tax code and the reduction of the corporate tax. To create conditions that foster growth, the government should severely reform and simplify the tax code. Income tax will be reduced to 0%, these taxes will be unnecessary when Ron Paul cuts the wasteful spending in Washington. He will reduce the corporate tax to 25% from 39%. Our current tax system discourages the activities that we need most: hard work, production, savings, investment, and risk taking, all of which aid the growth of small business and employment. We should tax people when they spend their wealth, not when they create it. Contention 2: Ron Paul has a sane fiscal policy. Instead of Obama doubling the national debt, Ron Paul would reduce the debt, reduce spending, and return us to solvency. He would present a balanced budget (including surplus) each year, cut federal spending by $1 trillion the first year, veto any unbalanced budget, and refuse to raise the debt ceiling to curtail reckless spending and government waste. There is nothing dangerous about returning to solvency or spending money wisely. However, there is incredible danger when Obama will continue to spend $2t over the limit each year and continue to raise the debt ceiling until the facade of the Ponzi-bond-scheme that is our fiscal policy is revealed, and we suffer immense consequences. Contention 3: Ron Paul has a sane monetary policy. Instead of Obama’s socialist Jobs plans, quantitative easing, and “stimulus,” Paul supports a monetary policy that would benefit everyone (except for corporations seeking a government-aided edge over competitors and those in government who profit from the corruption enabled by that system). He will conduct a full audit of the Federal Reserve and implement competing currency legislation to strengthen the dollar and stabilize inflation. When you hear the word "stimulus" you can basically substitute the word "inflation," because that's all a country will get from implementing it. The government is incapable of stimulating genuine economic growth, it has no real resources, and all it can do is interfere with the free market's ability to create genuine economic growth and legitimate wealth. Ron Paul will fight to fully audit, then end the federal reserve that is the cause of most economic problems in the United States, as central banks are the cause of most economic problems in the world. Conclusion: Dr. Paul is the only candidate with a plan to cut spending and truly balance the budget. This is the only plan that will deliver what America needs in these difficult times: Major regulatory relief, large spending cuts, sound monetary policy, and a balanced budget. [6]Barack Obama has tripled the national debt, increased regulations, and made it more difficult to start a business in the United States while contributing to inflation/dollar devaluation. [7][1] . http://www.huffingtonpost.com...[2] . http://paulitifact.com...[3] . http://www.mymoneycalculator.com.au...[4] . http://truthandliberty.com...[5] . http://www.tommullen.net...[6] . http://www.ronpaul2012.com...[7] . http://blog.heritage.org...