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News Link • Government Debt & Financing

Ron Paul's Amis


If Republican presidential hopeful Ron Paul is dissatisfied with the attention he's getting in America, here's another audience he might try: southeastern France.

This week European free-market economists, activists and students gathered in Aix en Provence for the annual Summer University of the New Economics. The sessions concern the crisis of the welfare state and paths back to fiscal sanity. But participants so far have been focused on Mr. Paul's issue of the summer -- sound money and the political propensity to inflate away debt.

French professor Pascal Salin of the Université Paris-Dauphine, twice on Monday thundered that "it is not necessary to create money," adding that "real money is investment, that's real wealth creation. . . . Morally, devaluation is nothing more than theft."


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