The Peter McCormack Show #017 - Peter St Onge - Liberty, Central Banks, Sound Money & Free Speech
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Oct 30, 2024 Peter St Onge, an economist at the Heritage Foundation and Mises Institute fellow, dives into the intricacies of government overreach and economic policy. He discusses the role of debt on growth and critiques the bureaucracy's impact on local entrepreneurship. St Onge explores the feasibility of dismantling government entities like the Federal Reserve, shares insights on healthcare inefficiencies, and advocates for pragmatic reforms over radical changes. The conversation also touches on the dynamics of free speech and media's role in political accountability.
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Government Debt Problem
- Governments face a debt problem fueled by a bloated state and increasing taxes.
- This leaves them with limited options: raise taxes further or borrow more, both hindering growth.
Impact of Central Banking
- Government growth is linked to abandoning the gold standard and implementing central banking.
- This removes constraints on government spending, leading to larger, more intrusive governments.
Incremental Change
- To enact change, focus on incremental improvements rather than drastic overhauls.
- Start with achievable goals, like reducing taxes or improving government efficiency, before tackling larger issues.