For this, the conservative blog RedState dubbed him “Al Qaeda’s favorite member of Congress.”

It was hardly the first time that Mr.Paul had marched to his own beat.

During his campaign for the Republican presidential nomination in 2008, he was best remembered for declaring in a debate that the 9/11 attacks were the Muslim world’s response to American military intervention around the globe.

A fellow candidate, former Mayor Rudolph W.Giuliani of New York, interrupted and demanded that he take back the words — a request that Mr.Paul refused.

During his 20 years in Congress, Mr.Paul has staked out the lonely end of 434-to-1 votes against legislation that he considers unconstitutional, even on issues as ceremonial as granting Mother Teresa a Congressional Gold Medal.

His colleagues have dubbed him “Dr.No,” but his wife will insist that they have the spelling wrong: he is really Dr.Know.

Now it appears others are beginning to credit him with some wisdom — or at least acknowledging his passionate following.

After years of blocking him from a leadership position, Mr.Paul’s fellow Republicans have named him chairman of the House subcommittee on domestic monetary policy, which oversees the Federal Reserve as well as the currency and the valuation of the dollar.

Mr.Paul has strong views on those issues.

He has written a book called “End the Fed”; he embraces Austrian economic thought, which holds that the government has no role in regulating the economy; and he advocates a return to the gold standard.

Many of the new Republicans in the next Congresscampaigned on precisely the issues that Mr.Paul has been talking about for 40 years: forbidding Congress from any action not explicitly authorized in the Constitution, eliminating entire federal departments as unconstitutional and checking the power of the Fed.

He has been called the “intellectual godfather of the Tea Party,” but he also is the real father of the Tea Party movement’s most high-profile winner, Senator-elect Rand Paul of Kentucky. (The two will be roommates in Ron Paul’s Virginia condominium. “I told him as long as he didn’t expect me to cook,” the elder Mr.Paul said. “I’m not going to take care of him the way his mother did.”)

Republicans had blocked Mr.Paul from leading the monetary policy panel once before, and banking executives reportedly urged them to do so again.

But Republicans on Capitol Hill increasingly recognize that Mr.Paul has a following — among his supporters from 2008 and within the Tea Party, which helped the Republicans recapture the House majority by picking up Mr.Paul’s longstanding and highly vocal opposition to the federal debt.

Aides, supporters and television interviewers now use words like “vindicated” to describe him — a term Mr.Paul, a 75-year-old obstetrician with the manner of a country doctor, brushes off.

“I don’t think it’s very personal,” he said in an interview in his office on the Hill, where he has represented the 14th District of Texas on and off since 1976. “People are really worried about what’s happening, so they’re searching, and I think they see that we’ve been offering answers.”

If there is vindication here, Mr.Paul says, it is for Austrian economic theory — an anti-Keynesian model that many mainstream economists consider radical and dismiss as magical thinking.

The theory argues that markets operate properly only when they are unfettered by government regulation and intervention.

It holds that the government should not have a central bank or dictate economic or monetary policy.

Once the government begins any economic planning, such thinking goes, it ends up making all the economic decisions for its citizens, essentially enslaving them.

The walls of Mr.Paul’s Congressional office are devoid of the usual pictures with presidents and other dignitaries.

Instead, there are portraits of Ludwig von Mises and Murray Rothbard, titans of the Austrian school.

For years, Mr.Paul would talk about their ideas and eyes would glaze over.

But during his presidential campaign, he said he began to notice a glimmer of recognition among those who attended his events, particularly on college campuses.