I've read
Ayn Rand's book Atlas Shrugged and her fictional heroic capitalists aren't real
estate developers or edge fund managers. They're steel and oil barons, car
manufacturers and railway tycoons.
Although
Rand has acquired many devotees over the years, mainly on the right of
politics, her gospel of selfishness didn't go down very well in late 1950s
America. Rand was criticised for being immoral and her advocacy of unrestrained
laissez-faire capitalism, wasn't popular either. The National Review described
it as a "silly book", which
I think is fair comment.
The book,
which some consider to be the Bible of the American Congress, is also very
American. One government employee, called Cuffy Meigs, is straight out of the
wild west. He carries a loaded revolver even in the office, and a rabbit's foot
for good luck.
The Austrian
economist Ludwig von Mises, the archpriest of neoliberal capitalism, wrote to
Ayn Rand in 1958 praising the book. He basically told her that she had the
courage to tell the masses what no politician was prepared to tell them. That
they were inferior and that they owed their conditions in life and social
improvements in life, to the efforts of "men who are better than you." Margaret Thatcher would
have subscribed to this view. She believed that all of us are indebted to a
small number of talented people (wealth creators), for our conditions in
life.
Yet, I think
it's true to say, that the greatest of inventions, is never likely to see the
light of day or leave the drawing board, if we haven't got the labour and
skills to make it. As Adam Smith tells us, it's labour that creates wealth and
some have argued that all wealth should go to labour. The relationship between
labour and capital is a dialectical relationship.
I don't
think Ayn Rand can be considered a serious philosopher. She was once asked if
she could sum up her philosophy when standing on one foot. She answered: Metaphysics, 'Objective Reality';
Epistemology, 'Reason'; Ethics, 'Self-Interest'; Politics, 'Capitalism'.
Like Charlie
Kirk, Rand railed against altruism and despised government welfare systems that
support the poor. Yet, in later life, when her health failed her, she finished
up on social security and Medicare. She couldn't even live up to her own
philosophy. Rand is one of very few authors to have written a pro-capitalist
novel and her capitalist super heroes, who like Atlas, hold up the heavens
aloft on their shoulders, are like Nietzsche's supermen. Rand denied that she
had ever been influenced by Nietzsche.