Sign in to follow this  
Followers 0
rtg24

Ayn Rand blamed for the crisis

2 posts in this topic

http://www.pbs.org/wgbh/pages/frontline/warning/view/

From about 4 min.

Usual argument, usual flaws:

1. "Greenspan followed Ayn Rand's philosophy intently and perfectly." (all the way to "She came to the Oval Office and watched him be sworn in")

2. "The US economy became completely unregulated with no government intervention."

etc.

They also blamed Reagan for liberalizing everything.

But hey, it's got footage of Ayn Rand speaking on TV, so worth a post here.

Share this post


Link to post
Share on other sites

An interesting program. As usual, there is a lack of definitions. What do they mean by "regulation"? Don't they understand the vast difference between regulating against fraud, and regulating for altruistic purposes? Any contracts should meet standards of openness if fraud is to be exposed, but that is a long way from regulating to serve social engineering. Why couldn't Greenspan see this. Pyramid schemes built on obscure derivatives are fraudulent. This manipulating of numbers as a substitute for wealth creation is subjectivism at it's worst.

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0