Monday, March 14, 2011

Capitalism Magazine - Objective Economics: The Implications of Ayn Rand's Philosophy on the Science of Economics

From the Preface:
The primary purpose of economics is to identify, interpret, and explain how a capitalist economy works. Altruism assured economists that capitalism is evil in advance of that knowledge. The evil consequences of this belief permeate all of economics, damning capitalism in both theory and practice. In theory, capitalism never had a chance. Since an evil system cannot work, capitalism was convicted a priori. As for capitalism's practice, economists' commitment to the immorality of capitalism blinded them to the facts. Every datum, every event, every phenomenon, every result, every aspect of capitalism was twisted and distorted out of any resemblance to reality in order to make it conform to the altruist agenda. Ayn Rand's refutation of altruism makes it possible for the first time in history to present the theory and practice of capitalism objectively, untouched by moral distortion. This is the first study of economics to take advantage of that fact, and in the end, an objective perspective is the primary value I have to offer.