Ayn Rand’s ‘Death of the Soul of Capitalism’: Self-destructive narcissists are sabotaging Adam Smith

[marmar]

By Paul B. Farrell, MarketWatch


SAN LUIS OBISPO, Calif. (MarketWatch) — “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.

Flash forward: You have a perfect metaphor for Rand’s extreme ideology, how today it is turning against America, blowing up capitalism, self-destructing as the excesses of a great ideology spin out of control, choking on the very dreams that fueled it for decades.

Yes, soon the commanding inner voice of Rand’s supercapitalism that’s imbedded itself deeply in America’s collective unconscious will trigger the suicide of capitalism, in a volley of excesses taking down the market, triggering a total economic collapse and profoundly altering America’s political destiny as the global superpower. .............(more)

The complete piece is at: http://www.marketwatch.com/story/ayn-rands-death-of-the-soul-of-capitalism-2011-06-14?link=home_carousel

[MissMarple]

1. Wow. A great ideology, who knew?

Well, who knew or even believed besides shrewd, glib halfwits like Paul Ryan, Rand Paul, .et al? Alan Greenspan is either really naive or very calculating. I'm going with calculating. Scary.

[QC]

2. K&R