Monday, March 31, 2008

My Letter to Ralph Nader

Dear Mr. Nader:

I saw your interview on Bloomberg television a few days ago and was favorably impressed. However, I do not believe that you identify ultimate causes. You attribute corporate influence to the corporations. But corporations, like human beings, will always be greedy. Hence, you campaign against human nature and do not seriously aim for reform.

In order to eliminate corruption, the power of the state to engage in corruption needs to be limited. Human impulses will not change, but human institutions can be made more or less conducive to moral behavior. Limitations on the ability of corporations to influence the state require a limited state.

Your point about the Bernanke Fed is a good one. However, to limit the Fed's subsidy to big banks and Wall Street would require a limitation on the Fed's ability to create money. Such a limitation existed until 1932, when Roosevelt eliminated the gold standard. If you continue to support the current fiat money system, you continue to support Wall Street, the commercial banks and income inequality.

As your argument stands now, you are supporting corporate corruption. Illogical arguments in favor of the impossible are simply arguments for the status quo. One way to limit corruption is to limit the power of the banking system to subsidize the stock market by transferring value from dollar holders to stock holders. Another way is to limit the power of the federal government.

I would urge you to look for a compromise with the libertarian position and to combine forces with or coopt Ron Paul. There is enough common ground that you could retain your anti-corporate posture but also adopt a libertarian posture that would be compatible with both "right" and "left" positions, which could double or triple your vote count.

Please see my blog here.


Mitchell Langbert

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