Ayn Rand’s Literature of Capitalism (NYT)

New York Times ^ | 9/15/07 | Harriet Rubin

[traviskicks]

One of the most influential business books ever written is a 1,200-page novel published 50 years ago, on Oct. 12, 1957. It is still drawing readers; it ranks 388th on Amazon.com’s best-seller list. (“Winning,” by John F. Welch Jr., at a breezy 384 pages, is No. 1,431.)

The book is “Atlas Shrugged,” Ayn Rand’s glorification of the right of individuals to live entirely for their own interest.

For years, Rand’s message was attacked by intellectuals whom her circle labeled “do-gooders,” who argued that individuals should also work in the service of others. Her book was dismissed as an homage to greed. Gore Vidal described its philosophy as “nearly perfect in its immorality.”

But the book attracted a coterie of fans, some of them top corporate executives, who dared not speak of its impact except in private. When they read the book, often as college students, they now say, it gave form and substance to their inchoate thoughts, showing there is no conflict between private ambition and public benefit.

“I know from talking to a lot of Fortune 500 C.E.O.’s that ‘Atlas Shrugged’ has had a significant effect on their business decisions, even if they don’t agree with all of Ayn Rand’s ideas,” said John A. Allison, the chief executive of BB&T, one of the largest banks in the United States.

“It offers something other books don’t: the principles that apply to business and to life in general. I would call it complete,” he said.

One of Rand’s most famous devotees is Alan Greenspan, the former chairman of the Federal Reserve, whose memoir, “The Age of Turbulence,” will be officially released Monday.

[traviskicks]

A great book. 'Free to choose' by Milton Friedman is another good one.

[traviskicks]

Libertarian ping! To be added or removed from my ping list freepmail me or post a message here.

[Darkwolf377]

Gore Vidal described its philosophy as “nearly perfect in its immorality.”

Talk about a review guaranteed to sell MILLIONS!

[traviskicks]

“The book was released to terrible reviews. Critics faulted its length, its philosophy and its literary ambitions. Both conservatives and liberals were unstinting in disparaging the book; the right saw promotion of godlessness, and the left saw a message of “greed is good.””

Reminds me of the quote:

“Always listen to experts. They’ll tell you what can’t be done and why. Then do it.”
- Robert Heinlein

[BRK]

If Gore Vidal is against it, then I am all for it.

[traviskicks]

my two favorite quotes:

I am rich and proud of every penny I own. I made my money by my own effort, in free exchange and through the voluntary consent of every man I dealt with — the voluntary consent of those who employed me when I started, the voluntary consent of those who work for me now, the voluntary consent of those who buy my product. I shall answer all the questions you are afraid to ask me openly. Do I wish to pay my workers more than their services are worth to me? I do not. Do I wish to sell my product for less than my customers are willing to pay me? I do not. Do I wish to sell it at a loss or give it away? I do not. If this is evil, do whatever you please about me, according to whatever standards you hold. These are mine. I am earning my own living, as every honest man must. I refuse to accept as guilt the fact of my own existence and the fact that I must work in order to support it. I refuse to accept as guilt the fact that I am able to do it and do it well. I refuse to accept as guilt the fact that I am able to do it better than most people — the fact that my work is of greater value than the work of my neighbours and that more men are willing to pay me. I refuse to apologize for my ability — I refuse to apologize for my success — I refuse to apologize for my money.
- Ayn Rand

All your life, you have heard yourself denounced; not for your faults, but for your greatest virtues. You have been hated, not for your mistakes, but for your achievements. You have been scorned for all those qualities of character which are your highest pride. You have been called selfish for the courage of acting on your own judgment and bearing sole responsibility for your own life. You have been called arrogant for your independent mind. You have been called cruel for your unyielding integrity. You have been called anti-social for the vision that made you venture upon undiscovered roads. You have been called ruthless for the strength and self-discipline of your drive to your purpose. You have been called greedy for the magnificence of your power to create wealth. You, who’ve expended an inconceivable flow of energy, have been called a parasite. You, who’ve created abundance where there had been nothing but wastelands and helpless, starving men before you, have been called a robber. You, who’ve kept them all alive, have been called an exploiter. You, the purest and most moral man among them, have been sneered at as a ‘vulgar materialist.’ Have you stopped to ask them: by what right? — by what code? — by what standard?
- Ayn Rand

[Darkwolf377]

She’s one of the most influential PEOPLE of the 20th
century, yet she’s never gotten the praise in the
media other women of accomplishment have.

When she is featured in the mainstream there’s always
someone to say “While I didn’t agree with EVERYTHING
she said...” as if being in agreement with someone in
toto is a prerequisite for achievment.

[Razz Barry]

BTTT

[mgist]

I haven’t heard of Rand until recently, and I consider myself fairly knowledgable.

I think my 30 something generation and younger has been kept in the dark about her. She has a very interesting biography, but her spiritual beliefs seem lacking.

[JerseyHighlander]

I’m in my late 20’s, every one my age who went through a decent business school (and got a degree outside of marketing), and economics knows this book. Most before they got to college, all by the end of sophomore year.

I’m still upset Madonna deep sixed the movie adaptation three years ago, she would have been a good Dagny.

[Darkwolf377]

I live in Boston and work in The People's Republic of Cambridge, and I'm always amazed at how many people--even in the summer months, when there are no college students around--are reading Rand.

I heard of her when I was a teenager but only recently have I gotten to know about her through folks other than those who condemned her for being self-centered.

[nyyankeefan]

She’s one of the most influential PEOPLE of the 20th
century, yet she’s never gotten the praise in the
media other women of accomplishment have.....

lib/dems and the lib/dem media are against capitalism/free markets/free commerce!!!!

[Darkwolf377]

Yeah, it was a rhetorical question. Ayn Rand and Condoleeza Rice have both had more influence than just about any pair of feminist icons one can name, yet you never hear about them spoken about as “strong women”. The BS from the Oprah sect that only considers liberal women true pioneers goes on.

[EBH]

I mentioned I was reading this at a dinner party. A friend said her daughter had to read it for college and that she too was rereading it. Her reason for rereading it? To make sure her daughter didn’t get sucked into the philosophy!

This book scares the heck out of libs.

[exhaustguy]

I actually thought Fountainhead was a better book. More concise but communicating the same message.

I think Ayn Rand made an important contribution to economic thought, but I get nervous about those folks wanting to make her a secular saint.

[PubliusMM]

Then, you must read her books...Atlas Shrugged, Capitalism: the Unknown Ideal, The Vitue of Selfishness, The Fountainhead, Introduction to Objectivist Epistemology, The Voice of Reason, et al. The Objectivist, a periodical, is also a good source of enlightenment.
As to spiritual beliefs...you may be correct; especially in light of current conditions. However, her objectivist philosophy was unabashedly unapologetic...
Rand has provided an enormous body of work, most of which is still available in reprints, via the Ayn Rand Bookstore (on line...).
Begin the journey. You won’t be disappointed.

[Chode]

A=A

[ml/nj]

Atlas Shrugged is an incredibly perceptive novel considering that it was written in 1957. I recommend rereading it from time to time. Some things become more relevant as we go along. ( E.g. Rush once let me read a brief quote about socialized health care on his show.)

ML/NJ

[Popman]

Here's an interesting quote

Mr. Greenspan met Rand when he was 25 and working as an economic forecaster. She was already renowned as the author of “The Fountainhead,” a novel about an architect true to his principles. Mr. Greenspan had married a member of Rand’s inner circle, known as the Collective, that met every Saturday night in her New York apartment. Rand did not pay much attention to Mr. Greenspan until he began praising drafts of “Atlas,” which she read aloud to her disciples, according to Jeff Britting, the archivist of Ayn Rand’s papers. He was attracted, Mr. Britting said, to “her moral defense of capitalism.”