“Read the news today? It’s like ‘Atlas Shrugged’ is happening in real life,” as this Facebook group points out.
Many intelligent observers have noted the connection, which has led to sharply increased sales of Atlas and prominent coverage of Atlas’s themes in Business Week, Forbes, the New York Times, the Economist, The Wall Street Journal, and other major publications. And from across the pond comes this British magazine’s tribute and commentary on Ayn Rand’s significance. (Thanks to Bob H. for the link.)
Amity Shlaes’s recent piece in Bloomberg is well worth reading: Atlas Is Shrugging With a Growing Load. Shlaes is the author of a recent history of the Great Depression and so is well positioned to offer commentary on our times. A pair of key quotations from Shlaes’s piece:
On punitive taxation: “In 1986, a year when Atlas Shrugged sold between 60,000 and 80,000 copies, the top 1 percent of earners paid 26 percent of the income tax. By 2000, that 1 percent was paying 37 percent, and Atlas Shrugged sales were at 120,000. By 2006, the top 1 percent carried 40 percent of the burden.”
On government fiat money and deficit financing, quoting Rand: “Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked, ‘Account overdrawn.’”
Today’s events are a consequence of political, economic, and, more importantly, philosophical principles adopted by the most influential thinkers and doers of the last several generations. The antidote, accordingly, requires that this and the next generation’s most influential thinkers and doers change their philosophical course.
For follow-up material on Rand’s philosophical analysis of the roots of the crisis and the antidote, I recommend the following.
For general readers, here is my introductory overview of Ayn Rand’s biography and ethics at the Internet Encyclopedia of Philosophy.
For all readers, here are two recent anthologies of essays on Atlas Shrugged, one edited by Professor Edward Younkins and the other edited by Professor Robert Mayhew.
For a technical, book-length discussion of Rand’s ethical theory, here is Tara Smith’s Ayn Rand’s Normative Ethics. For further discussion of Professor Smith’s book, here is my review [pdf], published in Philosophy in Review, and Carrie Ann Biondi’s extended review [pdf], published in the most recent issue of Reason Papers.
For a philosophically-informed analysis of the crisis by a top-level financial professional, I recommend John Allison’s analysis. Allison is Chairman of BB&T and one of the great businessmen of our generation. Evidence: BB&T is one of the major banks that is still very healthy. Like Todd Zywicki, I recently heard Allison speak on the origins of the financial crisis and how BB&T avoided being sucked into the mess, and I recommend his analysis highly.
As we are suffering through yet another hard experiential lesson about collectivism and enforced altruism, let’s resolve to learn the lesson clearly and in principle so that the next generation will see more encouraging signs like these.
Posted 1 year, 2 months ago at 7:14 am. 7 comments
11/30 Why were Enron’s Ken Lay and Jeff Skilling convicted? Professor Larry Ribstein argues that no one seems to know for sure.
11/29 Eyal Mozes investigates: Is there a rational basis for determinism? And in Spiked, Stuart Derbyshire surveys the state of brain science and free will and argues that we’re no slaves of our senses.
11/28 The New York Times reports on further progress for women in India. (Thanks to Virginia for the link.)
Prospect magazine has this fascinating overview (statist assumptions aside) of India’s under-achieving middle class. Philosopher Stone has a post with links about India and Ayn Rand. And thanks to my friend Bill, I’ve been watching Bollywood movies this year—let me recommend Guru (“a villager, Gurukant Desai, arrives in Bombay 1958, and rises from its streets to become the GURU, the biggest tycoon in Indian history”), Lagaan (“the people of a small village in Victorian India stake their future on a game of cricket against their ruthless British rulers”), and Veer-Zaara (“the story of the love between Veer Pratap Singh, an Indian, and Zaara Hayaat Khan, a Pakistani”).
11/27 A sad case study in far-left educational culture: Charlotte Allen explains Who killed Antioch College. (Thanks to Charles for the link.) On financial accountability in higher education: Ward Connerly looks at the factors. And Yale professor Anthony Kronman reminds those of us in higher education Why We Are Here.
11/26 A brief look at the social skills of the new generation of entrepreneurs. Here is an overview of Dietrich Doerner’s work on failure. The BusinessPundit on the one book every executive should read. And some useful advice to young entrepreneurs from a young entrepreneur.
11/20 Three interesting conferences coming up next April: Objectivity in the Law at the University of Texas, Liberty Studies at the College of New Jersey, and the annual conference of the Association of Private Enterprise Education in Las Vegas. Update: And in February a Students for Liberty conference at Columbia University, featuring speakers David Boaz of Cato, Alan Kors of the University of Pennsylvania, and Will Thomas of The Atlas Society.
11/19 It’s getting better all the time. Graphically-presented data on average income in the USA along with several other progress-related charts and graphs. Here is a website devoted to improvement indicators. (Thanks to Anja for the link.) And why even the optimistic Star Trek series underestimates future potential.
11/17 Professor Tara Smith investigates: Why Originalism Won’t Die—Common Mistakes in Competing Theories of Judicial Interpretation. (Thanks to Richard for the link.)
11/16 “In 1993, over a million saiga antelopes roamed the steppes of Russia and Kazakhstan. Today, fewer than 30,000 remain, most of them females.” Unintended consequences meet the tragedy of the commons, as Tyler Cowen explains.
11/12 Sawse has twenty-five photographs taken at precisely the right time.
11/11 Reflecting on Kurt Vonnegut’s Cat’s Cradle, Lester Hunt makes some shrewd observations about the moral psychology of cynicism, socialism, and nihilism. And John Palmer, the EclectEcon, has a datum on the European left’s deep crisis.
11/10 The bedbugs are back. Yet another thing to thank Rachel Carson for. Or not.
11/8 This Friday’s Free Kareem rallies. And while a relatively liberal young man languishes in jail, here is a classic piece explaining the attraction of intellectual-lightweight entertainment superstars to heavyweight-murderous political thugs: Humberto Fontova considers the case of Che.
11/7 In The New York Times, Harvard economist Greg Mankiw has a closer look at health care comparison numbers. Johan Norberg is also looking at the number of uninsured Americans. Philosopher Stone has a good round-up of links on the economics and politics of healthcare. Meanwhile, John Enright wonders what life-saving information we should suppress next. And Tom Kirkendell reminds us of an important anniversary: 30 years of angioplasty.
11/6 Overcoming the destructive eras in our history. An important history lesson by Shelby Steele on the legacy of Little Rock. Some pictorial evidence relevant to the question: to what extent were the Nazis Christian? And here’s an essay on the Regressives—or rather, the so-called Progressives in American history. Professor David Mayer has also written wisely on the reactionary progressives.
11/5 
Art historian Lynn Catterson speculates on the Laocoön scuplture: Hellenistic masterpiece or Michelangelo’s brilliant ploy? More on the hypothesis here—though would “forgery” be the right word? Meanwhile, classicist Mary Beard plays hooky to visit the Laocoön exhibition in Rome.
11/4 Cato’s David Boaz argues that on balance we are freer than at many points in our past (PDF format). Here is a stellar line-up of back issues of Cato’s Letter. By contrast, it’s election year in Saskatchewan, the resource-rich and socialism-poor Canadian province. The contrast to its neighbor Alberta is instructive. And even worse: Meghan Cox Gurdon puts some of our domestic rhetoric in perspective.
11/3 Where is Voltaire when you need him? John Leo wonders who will stand up for free speech on campus. Here is one university committed to brainwashing students with false and destructive messages. (Thanks to Johann for the link.) And David Thompson comments on the right not to be offended. Update: The FIRE reports that the University of Delaware has dropped its obnoxious indoctrination plans.
11/2 Ayn Rand in Latin America, with these follow-up interviews with Alex Chafuen, Giancarlo Ibargüen, and Juan Fernando Carpio. Harry Binswanger’s useful The Ayn Rand Lexicon is now free online. (Thanks to Anja for the link.) And YouTube user DJ Lorenzen has Ayn Rand on audio.
11/1 Trends of the times: A short interview in The Globe and Mail with the always-observant Grant McCracken, a summary look at IRS tax data, more data on badly misplaced priorities in the drug war and the fight against crime (thanks to Virginia for the link), and evidence that being a cop just keeps getting more difficult.
Posted 2 years, 9 months ago at 12:00 am. Add a comment
