Tuesday, February 24, 2009

Put Ayn Rand in the dustbin

This is rich. Alan Greenspan, known to be a big fan of Ayn Rand, is now talking about nationalizing banks. Well, well, well. So much for laissez faire. In a philosophy in which selfishness is a virtue and capitalism is the highest ideal, it seems that Rand and her followers have suffered something of an ideological TKO. Time to face up to the simple fact of anyone with any sense has always been aware; unchecked selfishness leads to nothing but chaos and disaster. Not only does the market need to be heavily regulated to function properly, but there are major sections of society in which the market simply doesn’t belong. Regardless of what Greenspan , Rand, or their followers think, it is not socialism, but capitalism that will fall into the dustbin of history. 

3 comments:

Anonymous said...

So uh...

What capitalist thinks that (effectively) giving some banks the ability to print their own money is a good idea?

What capitalist supports letting people buy things (houses in this case) that they can't actually afford?

Was Greenspan a follow of Ayn Rand in action or in word?

When I look at this situation I see a situation that escalated because the American government was propping up a banking system that couldn't have survived in a laisez-fair capitalist environment for years. This is payback for letting government screw with the economy in the first place.

Its interesting that we'll both have a much clearer understanding of who is right in about six months. I hope you're right and government control can fix the mess it made, but I'm pretty sure that Ayn Rand had it right and things are going to get a hell of a lot worse.

Keep your mind open, and maybe you'll learn something as things fall apart.

kirbycairo said...

A. Capitalists supported the deregulation that led to this mess. B. Capitalists were the ones that lent the money in the first place DUH. C. No one really follows Laizze-faire, least of all the ones who claim to. D. I never said the government can fix this particular mess E. Greenspan and Rand never understood Adam Smith in the first place.

Favela Cranshaw said...

When you talk Ayn Rand down you keep her name “in lights” on the web.
The only thing I ask for is the correct spelling, for my Google search.