Sunday, June 14, 2009

Ayn Rand's Atlas Shrugged and the World Today

“Ayn Rand's Atlas Shrugged and the World Today”: An Interview with Yaron Brook

"Yaron Brook: In Atlas Shrugged we see a world crumbling under the weight of government interventions and regulations. The economy has ground to a halt. Roads and bridges are breaking down, buildings are falling apart, new inventions are few and far between, and each day more and more businesses are shutting their doors. The government blames greed and the free market, frantically imposes further controls, but the crisis only deepens.

The similarities to today are striking. Since the start of our current crisis, we’ve been told that the free market and “greedy” businessmen are to blame, and that the only solution is to hand progressively more power over to the government. We’re hearing the same charges, and seeing the same policies, with the same destructive consequences that Rand wrote about more than half a century ago.

In Atlas, we even read about a “banker with a heart of gold” who went out of business after lending to borrowers on the basis of their “need” rather than their ability to repay. Anyone who understands how the government’s “affordable housing” crusade led to an orgy of subprime lending can appreciate Rand’s foresight [see Richard M. Salsman, “Altruism: The Moral Root of the Financial Crisis”]. "

Read the complete article.