I’ve heard of the “race card,” “Hitler card,” “woman card,” “flat earth card,” and the recent “Eva Braun card” (these people are the sickest), but I’ve never heard of the “Creationism card.” And yet, it was played by Harvard Professor and former Clinton Treasury Secretary Larry Summers in a critical response to a paper written by Trump economic officials Peter Navarro and Wilbur Ross. Summers criticized it as “well beyond voodoo economics.”
“The logic of it, the arguments made, are so far out of the mainstream of any kind of responsible economic thinking that they’re the economic equivalent of creationism.”
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This means, according to Summers, believing that God created us, as the framers of the Declaration of Independence (“We are endowed by our Creator”) and Constitution (“In the year of our Lord”) believed, is worse than voodoo. People like Summers are out of touch with ultimate reality and day-to-day economic reality.
Keynesians like Summers are the ones who believe in voodoo and a secular/materialistic type of creationism when it comes to economic policy. They believe that money can be created out of nothing. It’s why we’re in an economic mess with debt and deficits far beyond where anyone can see.
“Quantitative Easing” and “priming the pump” are the epitome of matter-only creationism – the State acting as a god to create money out of nothing. They believe they can create prosperity by inking some engraved plates and feeding the printing machines with a special blend of paper that only our god-like government has access to. If this is not playing god, then I don’t know what is.
What do we always hear from the Keynesian materialist creationists? They are going to “create jobs.” How are they going to do it? By creating money out of nothing. The only money the government has is money it has stolen from working people and redistributes to other people and “money” it rolls off the printing presses.
Our founders, who did believe in some form of special creation, abhorred economic policies that they knew would kill our economy and saddle future generations with mountains of debt. The Founders understood the disastrous effects of fiat (created from nothing) paper money. Their “Continentals” weren’t worth a Continental.
“The Founding Fathers were alarmed by worthless paper and the inflationary trends of early American history. Edmund Randolph complained that ‘paper money is viler than the rags on which it is printed.’1 Jefferson worried that paper money would ‘enrich swindlers’ at the expense of honest and industrious men. Fearful of the impact of inflation on commerce, morality and society, Madison argued that fiat money was ‘unjust, pernicious, and unconstitutional.’ Adams believed that money unbacked by silver or gold ‘represented nothing’ and was a ‘cheat upon somebody.’ Ben Franklin wryly noted that fiat currency was ‘a wonderful Machine…and when we are obliged to issue a Quantity excessive, it pays itself off by Depreciation.’2
“Concerns about monetary instability called for a Constitutional Convention. The Constitution (Article I, Section 10) is absolutely clear: ‘No state shall…make any Thing but gold and silver coin a Tender in Payment of Debts.’ In other words, after a disastrous experience with inflation and the irresponsibility of the states, the Founding Fathers wanted a solid currency for the nation.
“The most vigorous advocate of economic sanity was John Witherspoon, a Presbyterian minister and the president of Princeton. His frequently-reprinted ‘Essay on Money’ was a classic defense of hard money. He bitterly opposed price controls (a common solution for the inflation problem) as statist, writing, ‘Remember, laws are not almighty. It is beyond the power of despotic princes to regulate the price of goods.’” ((Dr. Roger Schultz, “‘Not Worth a Continental’ Inflation in the Independence Era,” Chalcedon.))
The materialist creationists believe they can turn stones into bread and paper into gold. They are modern-day economic alchemists, thieves dressed in suits masquerading as benefactors. It’s like adding water to wine or a base metal to silver and gold and declaring them to be certifiably true (Isa. 1:22). The people are cheated by money and commodity manipulation. Isaiah goes on to describe the “rulers” as “rebels and companions of thieves” (v. 23). If you and I did what our government does with any product we manufactured and sold, we would be in jail.
John Alden, The American Revolution (New York: Harper and Row, 1954), 220. ↩
Gordon Wood, The Radicalism of the American Revolution (New York: Vintage, 1993), 251, 318. ↩