by Ayn Rand, Nathaniel Branden, Alan Greenspan, Robert Hessen
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4 of 5 people found the following review helpful:
 At Whose Expense?, 2008-07-15
Ayn Rand, best known for her best selling fictional works outlining her own philosophy of Objectivism, presents a collection of thoughts on economics that provides one of the best explanations of laissez-faire capitalism available. Capitalism: The Unknown Ideal was my introduction to the Austrian economic school of thought and to this day, after considerable research on the subject, I cannot think of a better introduction.
Rand, in combination with Nathaniel Branden, Alan Greenspan, and Robert Hessen, provides an admirable compilation of thought portraying the very essence of laissez-faire capitalism. The book is based on the founding principals of America and an understanding that "America's abundance was not created by public sacrifices to the `common good', but by the productive genius of free men who pursued their own personal interests and the making of their own private fortunes."
If you resent the fact that your life is your own responsibility and no one else's, then you will not like this book. This will account for the less than perfect overall rating this book inevitably will acquire as there are many among the masses who just cannot accept that they might have to be accountable for their own decisions. Such thoughts clearly do not speak to the quality of the book, rather frustration with the ideals; an understandable and anticipated response to a book of this nature.
Anyone seeking to understand the logical and objective ideals of laissez faire capitalists will discover all they are searching for with this book and I highly recommended this to readers and critical thinkers of all views of economic thought.
2 of 2 people found the following review helpful:
An Excellent Collection of Essays on Ayn Rand's Political Views, 2008-05-11
This book contains an excellent collection of essays on the political branch of Ayn Rand's philosophy of Objectivism and is appropriate for anyone seeking to obtain a deeper understanding of her political philosophy beyond reading her novels. A few of my favorite essays contained within include:
* What is Capitalism? -- Ayn Rand's delineation of Capitalism as a political system where individuals live according to the Trader Principle and have a minimal, but central government to prevent the initiation of physical force and fraud.
* Antitrust -- Alan Greenspan's excellent essay that attacks Antitrust legislation as subjective, harmful and immoral.
* Gold and Economic Freedom -- Alan Greenspan's essay on the need for objective currency. In particular, he suggests a return to a 100% gold standard.
* Patents and Copyrights -- Ayn Rand's views on the necessity and morality of intellectual property rights.
* Theory and Practice -- Ayn Rand's views on the invalidity of the "Mind-Body Dichotomy", which is also known as the "Theory-Practice Dichotomy" or the "Thought-Action Dichotomy".
* The Wreckage of the Consensus -- Ayn Rand's views on the debacle that was the war in Vietnam. In my opinion, reading this essay really suggests how she would view the current war in Iraq.
* Man's Rights -- in this essay, Ayn Rand discusses what individual rights are and where they come from. Specifically, she argues that rights come from the nature of man (not from divine origin, society or law) and what they mean in practice.
* The Nature of Government -- this essay contains Ayn Rand's view on government's as an agency of force, how the only proper purpose for a government is to safeguard the rights of men, how the only legitimate functions of government are those necessary to preserve individual rights (i.e., police force, army and a court system) and the necessity for a strong, central government to serve as a final arbiter on the use of retaliatory force. This last point is in stark contrast to various anarcho-capitalists such as David Friedman and Murray Rothbard.
1 of 2 people found the following review helpful:
Capitalism is Right, 2008-04-04
I find it strange that a reviewer would post that "Capitalism is Wrong" while typing it on a computer and sending it across an Internet to a website that is built on the back of that "evil" word. Do you see the contradiction?
Those that actually read the book would have grasped the essential statement she made which was that she was not primarily an advocate of Capitalism, but of reason. Capitalism was just the natural conclusion.
In any case, the collection of essays presented here are an excellent example of historical evidence as well as philosophical reasoning behind the idea that Capitalism is the only moral political system in existence.
That may shock many potential buyers of the book, but Rand et al present a series of compelling arguments backed up with historical evidence that spans the nation's history to prove their point: Never, not once in America's history, did free enterprise capitalism ever cause ANY of the economic problems that have plagued this country. From the railroads, to the child labor laws, to antitrust regulations...all were caused by Government regulation and interference in the free market. It is a conclusion that one must read and study to believe.
1 of 2 people found the following review helpful:
Rand at her best, 2008-01-05
Yes, she is abrasive and condescending. That is because she tells the truth. Here is Ayn Rand at her fiery, angry best. Her logic is impeccable although her style may irritate many readers. If you are angry about what's happening to America today, at least attempt to read her prescient message.
2 of 22 people found the following review helpful:
 Capitalism is wrong, 2007-11-04
Capitalism has a number of failings but perhaps the most basic one
is its theory of values. Capitalism acts as if there is a common
currency with which we can measure all that is valuable (money).
This value monism is incorrect. See "The non-existence of a utility
function and the structure of non-representable preference relations"
(Beardon, et al, J. of Math. Econ., vol. 37, pg 17-38, 2002) and refs.
therein. Capitalists simply get the math wrong. Money isn't everything.
Value pluralism is the correct axiology. There are things of value
that can not be bought and sold (thank god! like love and votes).
This failure of values within capitalism is why it is ultimately evil.
Rand is an apologist for evil, a tragic figure.
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