If We Can’t End the Fed, Can We at Least Subject It to Competition?

If We Can’t End the Fed, Can We at Least Subject It to Competition?

Ron Paul has made “End the Fed” a popular slogan, but some people worry that this is a radical untested idea. In part, this is because it is human nature to fear the unknown.

But there are plenty of examples of policy reforms that used to be considered radical but are now commonplace.

• Statists used to argue that the flat tax was unworkable, but there are now about 30 nations with a version of this simple and fair tax system.
• Leftists used to argue that personal retirement accounts were impractical, but dozens of nations now have this...