Capitalism: The Unknown Ideal

by Ayn Rand

Other authorsAlan Greenspan (Author), Nathaniel Branden (Author), Robert Hessen (Author)

Paperback, 1986

Status

Available

Call number

HB501

Genres

Publication

Signet (1986), Edition: Reissue, 416 pages

Description

The foundations of capitalism are being battered by a flood of altruism, which is the cause of the modern world's collapse. This is the view of Ayn Rand, a view so radically opposed to prevailing attitudes that it constitutes a major philosophic revolution. In her series of essays, she presents her stand on the persecution of big business, the causes of war, the default of conservatism, and the evils of altruism. This collection of twenty-six essays includes twenty by Ayn Rand as well as three essays by Alan Greenspan, two by Nathaniel Branden, and one by Robert Hessen. These essays are a challenging look at modern society by some of America's most provocative intellectuals.

User reviews

LibraryThing member jpsnow

Excellent. Given the choice to have everyone read an Ayn Rand work, I would probably choose this. Worth re-reading anytime one doubts their role in the mess.

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LibraryThing member zigory

This is the first book to defend Capitalism from a moral perspective as well as a practical one; it shows why Laissez Faire Capitalism is the only moral economic system. The young Alan Greenspan wrote some of the articles, including one that opposes the existence of the Federal Reserve Board. If

only he had listened to his own advice. In these times where economics are an important subject to understand, this is a great introduction to the subject. I also recommend Economics in One Lesson by Henry Hazlitt.

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LibraryThing member joshua.pelton-stroud

A collection of essays written mostly by Ayn Rand, this book did a good job of getting out the over all message of Individual Rights superseding the collective.Some of the most interesting bits I found were the parallels between the arguments taking place circa the mid- to late-1960's and today; we

seem to still be facing all of the arguments coming out of D.C. now that we were then. Things like the false dichotomies of "whether government should do X or Y", when the question needs to be, "should government be involved at all?"In "The Nature of Government", Rand makes a compelling case defining the role that government plays:The fundamental difference between private action and governmental action - a difference thoroughly ignored and evaded today - lies in the fact that a government holds a monopoly on the legal use of physical force.Because of this, government must be narrowly defined and tightly controlled to prevent that legal monopoly from being wielded by those with political pull to harm particular individuals or groups. In "What is Capitalism?", the argument is that pure capitalism as a system is the only social/political structure that relies solely on the rights of the individual to better themselves without resorting to the use of physical force and taking what is needed from others.In "Notes on the History of American Free Enterprise", (the lack of) these two concepts in particular are starkly portrayed with references to early American railroad systems:There were many forms of government help for these projects, such as federal land grants, subsidies, state bonds, municipal bonds, etc. A great many speculators started railroad projects as a quick means to get some government cash, with no concern for the future or the commercial possibilities of their railroads. They went through the motions of laying so many miles of shoddy rail, anywhere at all, without inquiring whether the locations they selected had any need for a railroad or any economic future. Some of those men collected the cash and vanished, never starting any railroad at all. This is the source of the popular impression that the origin of American railroads was a period of wild, unscrupulous speculation. But the railroads of this period which were planned and built by businessmen for a proper, private, commercial purpose were the ones that survived, prospered, and proved unusual foresight in the choice of their locations.In another section of the same essay, after quoting two liberal journalists decrying the corruption of the railroads who "had bought senators and congressmen, just as they bought rails and locomotives...", we are asked to identify the actual parties of the corruption: "..what could the railroads do, except try to 'own whole legislatures' if these legislatures held the power of life or death over them? What could the railroads do, except resort to bribery, if they wished to exist at all? Who was to blame and who was 'corrupt'--the businessmen who had to pay 'protection money' for the right to remain in business--or the politicians who held the power to sell that right?"Over all, I found the essays in this collection to be extremely thought provoking. Rand is utterly scathing in some instances when speaking directly about socialism and Soviet Russia, but these seem to be the exception rather than the rule. Essays by Alan Greenspan, Robert Hessen and Nathaniel Branden help to break up Rand's almost single-minded attraction to concepts covered in her book "Atlas Shrugged", and, especially those of Greenspan, bring in pointed rebukes of particular instances in which public policy, in the name of protecting the average man, has actually done more harm by eroding individual rights than good.Highly recommended for anyone interested in economics, politics and the philosophy of individualism.

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LibraryThing member RonManners

"The foundations of capitalism are being battered by a flood of altruism, which is the cause of the modern worlds collapse. This is the view of AYN RAND, a view so radically opposed to prevailing attitudes that it constitutes a major philosophic revolution. In this series of essays, she presents

her stand on the persecution of big business, the causes of war, the student rebellion, and the evils of altruism. Here is a challenging new look at modern society by one of the most provocative intellectuals on the American
scene. ONE OF THE MOST REVOLUTIONARY AND POWERFUL
WORKS ON CAPITALISM—AND ON POLITICS—THAT HAS EVER
BEEN PUBLISHED." —Professor Leonard Pèihoff, Barron's Magazine"
Taken from the Back Cover.

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LibraryThing member ague

A must read for anyone who wants an education in economics.

LibraryThing member LisaMaria_C

Ayn Rand was once asked if she could present the essence of her philosophy while standing on one foot. She answered: Metaphysics: Objective Reality; Epistemology: Reason; Ethics: Self-interest; Politics: Capitalism. I first encountered Ayn Rand through her works of fiction as a young woman barely

out of my teens. Back then I was already an atheist, one with a great belief in science and reason. There was nothing in her "metaphysics" or "epistemology" that I found the least bit surprising or controversial--indeed in essentials I already agreed with her. Her ethics and her politics were a different story. I remember reading Atlas Shrugged and thinking "you crazy bitch." But she did touch off a revolution in my thinking, changing me from a liberal to a libertarian.

Do I agree with everything within these pages? Well, let's say there is still much of it where I have doubts, and where I feel uneasy about her prescriptions. Her views are radical--and she knew it and was unapologetic about it. But at least at the time I picked this book up, I had literally never encountered her arguments. When I read it was (barely) pre-blogosphere, before the rise of talk radio or FOX News. What I knew of history and public policy from my New York City public education made Franklin Roosevelt, Jack Kennedy and Lyndon Johnson the heroes of our times. I had never heard a dissenting voice from that. I don't know that I--or readers new to this book--would find this such a fresh perspective now. But I did--and it really made me think and go read more.

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