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A NEW YOUNG TURK of the TORY PARTY: STEVEN BAKER

I want to thank my background source, Deep Tory, for this idea:  DT suggested that I write about Steven Baker, the new MP from Wycombe.  At the risk of a recurrence of a midlife crisis, here we go!

Baker is fabulous; he’s a software engineer by education and training.  He entered politics through activism:  He helped found the Cobden Centre with the goal of, as it states in its mission statement:

Our vision is of a peaceful, open and free society based on a stable, sustainable economy in which everyone has the opportunity to participate in constantly growing real prosperity.

Based on sound scholarship, we argue that such a society must be built on honest money.

Honest money means an end to credit expansion and false booms followed by financial crises with appalling human cost. It means an end to inflation of the money supply and hence prices. Honest money is the key to social progress in the 21st century.

Therefore:

  • We believe that social progress comes when private property is secure and all people enjoy an increase in their real income.  We believe that the reduction of relative poverty and the increase of general prosperity will make society more orderly, stable and free.
  • We believe that, today, the first condition to secure private property, to diminish widening wealth inequality and to establish a stable, sustainable economy for the benefit of all is honest money.
  • We believe that the method of increasing real income for all people is a social system of independence, interdependence and mutual cooperation: the free market.

We believe, with Richard Cobden, that with honest money and free trade, international peace and social progress will follow. We endorse Cobden’s view that:

Peace will come to earth when the people have more to do with each other and governments less.

I can agree with that; I suspect most of my libertarian/tea party readers will do so, too.  So who is Cobden? 

Richard Cobden was a Nineteenth Century British MP and activist who fought for free trade and relations between nations.  Here’s what the Cobden Centre says:

Richard Cobden (1804-1865) was an entrepreneur and politician who stood for honest money, free trade and peace. He opposed war and profligate military adventurism. Cobden played a leading role in the repeal of the Corn Laws in 1846, to the general benefit of the working man.

An anti-interventionist free trader for peace?  Imagine that!  To learn more, here’s the webpage for the Cobden Centre.  The Cobden Centre also endorses Austrian economics (think von Hayek and Mises).  This is the man Steven Baker wants to honor.  In his maiden speech in Parliament on June 8, Baker called for sound money:

Artificially lowered interest rates increase the demand for credit, and decrease the supply of savings, but the legal privilege granted to banks means that they can meet demand by extending credit that is unbacked by real savings. There is a good argument to say that that causes the boom-and-bust cycle, the misdirection of resources in the capital structure of production, and over-consumption by consumers. That is the biggest problem that we face today.

They called Ron Paul a nut job and worse for speaking on inflation as a hidden tax and abolishing the Federal Reserve.  But here is an intellectual defense of sound money in the House of Commons!  There’s more:

Today, money is a product of the state. The Bank of England controls the price, quantity and quality of money. Perhaps if we were talking about any other commodity, there would be far less confusion over and questioning of the cause of the crisis. If money is a product of the state, we should ask ourselves, “Is this a good idea?”

Cong. Paul has called for alternative legal currencies; we do have such a currency whether people agree with it or not:  It’s called gold.  Many turn to gold in times of trouble.  But Baker said more; he said the UK (and by extension the US) is headed for financial catastrophe (I thank the Institute for Economic Affairs):

Using impeccable analysis and respected (ONS and Bank for International Settlements) data sources, Mr. Baker painted a frightening scenario in which the fiscal policies of western governments are unsustainable, and were even before the recent crisis erupted.  

The government can’t borrow much more, it can’t spend much more and it can’t tax much more; nor can it grow the economy out of its current mess (as if it ever could!). The only other way to pay off its debts is by massive inflation, which would produce a catastrophe reminiscent of the Weimar Republic after World War One.

Steven Baker is an asset for the British Parliament; I am honoured to introduce him as a Young Turk and we’ll keep up with him as well.  Here’s his personal website.  Thank you, Deep Tory for the idea!  Ron Paul ideas are on the march!

About Elwood Sanders

Elwood “Sandy” Sanders is a Hanover attorney who is an Appellate Procedure Consultant for Lantagne Legal Printing and has written ten scholarly legal articles. Sandy was also Virginia’s first Appellate Defender and also helped bring curling in VA! (None of these titles imply any endorsement of Sanders’ views)

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Tom White Says:

Nothing is more conservative than a republican wanting to get their majority back. And nothing is more liberal than a republican WITH a majority.

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