For decades, defenders of liberty and self-rule have been fighting what seems like a continuous battle about the power, reach, and accountability of the federal government. Thoughtful critics of the federal invasion of our liberties draw from rich intellectual, political, and constitutional arguments. But few think as deeply about the cultural conditions of a free and self-reliant people.
The “Audit the Fed” proposal of Senator Rand Paul (R-Ky.) elicits a surprising amount of emotion, from opponents and supporters alike. Why should this be?
“Monetary policy” purposefully sounds technical and dull—you like it that way if you want to keep it the domain of supposedly objective experts who don’t want any mere politicians interfering in their elite central banking club. But money affects everybody and is an emotional topic, especially if the Fed is on purpose crushing you, as it currently is doing to savers, in order to benefit borrowers and speculators.
Americans have always been strivers. Since at least the 19th century we have been eager to file into lecture halls to be talked at by experts. Those obnoxious-seeming TED talks that I’ve tried to avoid are not a new feature of our national life. As others have pointed out, TED’s great-great-granddaddy is the Chautauqua, named for the rural meetings at Lake Chautauqua in New York state, which began in the 1870s and became a nationwide circuit of lectures and instructional assemblies.