Monday, June 03, 2013
• • The ‘cult of capitalism’ and U.S. moral decline
We now see what John Bogle call a “mutant” capitalism that no longer resembles Adam Smith’s inspiring economic principles enshrined in our Declaration of Independence and Constitution. This type of capitalism has turned into an out-of-control virus destroying America’s moral values from within. Missing is an sense of honor and love of democracy that made me proud as a U.S. Marine sergeant. Missing is a balance of conservative free-market principles with liberal compassion. All that has vanished in the blind ideologies of today’s Ayn Rand clones demanding a return to a world that mimics the Wild West.
Friday, May 10, 2013
• • Capitalism is killing our morals, our future; Commentary: In a Market Society, everything is for sal
Capitalism is eliminating moral values, as Nobel economist Milton Friedman and capitalism’s philosopher Ayn Rand had been preaching to the generation. As [Harvard philosopher Michael] Sandel puts it: “Each party to a deal decides for him- or herself what value to place on the things being exchanged. This nonjudgmental stance toward values lies at the heart of market reasoning, and explains much of its appeal.” But unfortunately, market capitalism “has exacted a heavy price ... drained public discourse of moral and civic energy.”
Monday, April 08, 2013
• • Critical Warning No. 13: Stockman’s ‘Apocalypse’
[David] Stockman’s aggressive attack makes it painfully clear that [...] the conservative dogma of Nobel economist Milton Friedman and its high priestess Ayn Rand, of Fed dictators Alan Greenspan and Ben Bernanke, of budget hawk Paul Ryan and his Tea Party mercenaries is now imbedded in American politics, on the left as well as right, deep in our DNA and our souls.
Saturday, March 16, 2013
• • 10 explosive bubbles that will kill capitalism
In an update to his 1998 book, “A World Transformed,” [Brent] Scowcroft says, “once we were viewed as trying to do our best for everyone: now we are seen a being preoccupied with our own special interests,” a myopic vision that reflects the trend among many politicians to govern using Ayn Rand’s extreme capitalism. [....] Bottom line: America’s new Ayn Rand style of extreme capitalism is self-destructive.
Tuesday, February 26, 2013
Thursday, August 23, 2012
Monday, July 30, 2012
Thursday, February 23, 2012
• • • Halftime in America? More like sudden death
Altruism |Atlas Shrugged |The Fountainhead |Capitalism |Egoism |
Unfortunately, Smith’s original 1776 capitalist economic ideas have been turned upside down and enshrined in the extreme ideology of Ayn Rand, the patron saint of today’s Super Rich. In “The Fountainhead,” Ayn Rand hints at the inevitable destiny of capitalism. The leading character Howard Roark is the ultimate individualist, an idealistic architect and archetypal free-market capitalist. Enraged when some second-rate competitors compromise the integrity of his plans for a modern building, he seeks revenge, takes the law into his own hands, sneaks onto the construction site at night, dynamites the construction, destroying it. “The Fountainhead” is a perfect metaphor for today’s self-sabotaging capitalism.
Wednesday, September 28, 2011
• • • Top hedge fund mixes Ayn Rand, behavioral psych
Alan Greenspan |Altruism |Capitalism: The Unknown Ideal |The Fountainhead |The Virtue of Selfishness |Egoism |Image |
Ayn Rand, high priestess of capitalism, reincarnated in an American hedge fund? Deep in the collective conscience of the world’s leading hedge fund, the $122 billion Bridgewater? Yes, Rand’s spirit is alive, in the vision of the iconic Ray Dalio, the perfect capitalist, 55th on the 2010 Forbes 400 with $5 billion, a guy who could easily be cast as Howard Roark, the ultimate individualist in “The Fountainhead.” Here’s his secret: Why his flagship fund Pure Alpha II returned 44.8% in 2010.
Tuesday, June 14, 2011
• • • Ayn Rand’s ‘Death of the Soul of Capitalism’
Altruism |Atheism |Atlas Shrugged |The Fountainhead |Capitalism |Egoism |Individualism |Inaccurate |
“Atlas Shrugged” is Ayn Rand’s most popular work. A mysterious rebel leader John Galt saves America from economic ruin. But before we rise from the ashes, before the redemption, comes the blowup. And for that, let’s turn to my favorite, “The Fountainhead,” where Rand offers a subtle hint of capitalism’s eventual demise and self-inflicted death. In “The Fountainhead” Howard Roark is the ultimate individualist, an idealistic architect and archetypal free-market capitalist. Enraged when second-rate competitors compromise the integrity of his plans for a modern building, Roark seeks revenge, takes the law into his own hands and, in a terrorist act, sneaks onto the construction site in the dark of night and dynamites the building — kaboom — destroying it.
Saturday, April 30, 2011
Friday, April 22, 2011
Tuesday, February 15, 2011
Tuesday, November 23, 2010
Tuesday, November 02, 2010
• Sell bonds now, Fed’s QE2 is doomed to fail
Odds are Obama will be replaced by an ultra-conservative president whose brain will be driven by the discredited ideologies of Milton Friedman, Ayn Rand and Reaganomics … a political scenario guaranteed to trigger another, bigger economic meltdown that will push America into a long Japan-style recession.
Wednesday, August 04, 2010
• Commodity ETFs: Toxic, deadly, evil
Rolling Stone’s McKenzie Funk adds another brutal critique in “Will Global Warming, Overpopulation, Floods, Droughts and Food Riots Make This Man Rich?” Funk focuses on Phil Heilberg, a former AIG commodity trader who is one of the new “Capitalists of Chaos.” Heilberg is a self-proclaimed pure Ayn Rand capitalist hustling Africa, making “land grab” deals to control millions of acres and commodity rights in unstable nations.
Tuesday, April 20, 2010
• • President Obama vs. Goldman’s Reaganomics
For decades Rand was Greenspan's conservative guru: "When I say 'capitalism,' I mean a pure, uncontrolled, unregulated laissez-faire capitalism ... the only system that can make freedom, individuality, and the pursuit of values possible in practice because capitalism demands the best of every man -- his rationality -- and rewards him accordingly ... free ... to go as far on the road of achievement as his ability and ambition will carry him." Rand and her disciple Greenspan demanded total, unrestricted freedom for Wall Street.
Tuesday, December 01, 2009
• • Obama’s ‘predictably irrational’ economic policies
[Alan Greenspan] Ayn Rand-ishly facilitated the progressive dismantling of governmental restrictions on financial behavior.
Tuesday, November 17, 2009
• • Financial innovation is Wall Street’s new ‘soul sickness’
Atlas Shrugged |The Fountainhead |Capitalism |
Look closely and see clear signs of immoral, even criminal, misconduct fueling Wall Street's obsession with unregulated financial innovation. To fully understand why, you need to see financial innovation in the broader, historical context of the emerging new American capitalism. [....] 2. [Alan] Greenspan and Ayn Rand, author of 'The Fountainhead' and 'Atlas Shrugged'. Rand was Greenspan's guru and mentor. For decades they had a profound impact on American capitalism. Rand was dogmatic: "When I say 'capitalism,' I mean a pure, uncontrolled, unregulated laissez-faire capitalism, with a separation of economics, in the same way and for the same reasons as a separation of state and church." Why? "Capitalism is the only system that can make freedom, individuality, and the pursuit of values possible in practice because capitalism demands the best of every man -- his rationality -- and rewards him accordingly. It leaves every man free to choose the work he likes, to specialize in it, to trade his product for the products of others, and to go as far on the road of achievement as his ability and ambition will carry him." Rand captured the conservative spirit of the emerging American capitalism, and through her disciple, both demanded total, unrestricted freedom for Wall Street.
Friday, September 18, 2009
• Paul Krugman, meet Dr Sigmund Freud
An imagined conversation.
[Freud:] There will always be economists and politicians who are not enamored with liberalism nor with behavioral economics. They believe passionately in free-market conservatism, in Friedman, Reaganomics and, yes, even in Ayn Rand.