There's a good piece up at Reason by Julian Sanchez and David Weigel.
But perhaps the best refutation of the old approach is not the absence of race-baiting rhetoric from its progenitors, but the success of the 2008 Ron Paul phenomenon. The man who was once the Great Paleolibertarian Hope has built a broad base of enthusiastic supporters without resorting to venomous rhetoric or coded racism. He has stuck stubbornly to the issues of sound money, "humble foreign policy," and shrinking the state. He wraps up his speeches with a three-part paean to individualism: "I don't want to run your life," "I don't want to run the economy," and "I don't want to run the world." He talks about the disproportionate effect of the drug war on African-Americans, and appeared at a September 2007 Republican debate on black issues that was boycotted by the then-frontrunners. All this and more have brought him $30 million-plus from more than 100,000 donors; thousands of campaign volunteers; and the largest rallies he's ever spoken to, including a crowd of almost 5,000 in Philadelphia.
It's worth noting that although Ron Paul has stated that he is morally responsibe for the contents of his newsletters, he hasn't done anything to distance himself from the writers. I doubt that the opinions in his newsletters really reflect his character, but the fact that he allowed those opnions to go out in his name certainly tells you something about him.
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