This is a posting about a piece written by Stephen Moore in the Wall Street Journal about Ayn Rand’s classic novel Atlas Shrugged and its relevance to today’s economic crisis. Although I agree with most of what Moore says, I think he fails to mention the true meaning of Atlas. I would also encourage you to read another classic, The Great Gatsby, which has many more lessons we fail to learn.

 

 

 

Stephen Moore is an economics writer for the Wall Street Journal. He’s also a frequent guest on news and business talk shows. I enjoy him and his work. This past weekend he wrote a piece January 9, 2009 called Atlas Shrugged: From Fiction To Fact in 52 Years. It was well-written. Here’s Moore’s nice description of Ayn Rand’s work that has become the Bible for libertarians.

 

 

 

 

	For the uninitiated, the moral of the story is simply this: Politicians invariably respond to crises — that in most cases they themselves created — by spawning new government programs, laws and regulations. These, in turn, generate more havoc and poverty, which inspires the politicians to create more programs . . . and the downward spiral repeats itself until the productive sectors of the economy collapse under the collective weight of taxes and other burdens imposed in the name of fairness, equality and do-goodism.

Moore also makes his pitch to gather new converts.

	If only “Atlas” were required reading for every member of Congress and political appointee in the Obama administration. I’m confident that we’d get out of the current financial mess a lot faster.

Not so fast, Stephen.

 

Like most libertarians and followers of Ayn Rand, Moore has missed the true meaning of Rand and her effect on American life in 2009.

 

First, Rand has already bled into the fabric of American life and business. Look at the millions of small businesses in America. Look at the number of people who work full-time and have businesses on the side. Imagine how many more enterprises will sprout as the Internet becomes a ubiquitous form of distribution and we shake off the old ways of last century’s corporate culture. Even Democrats, once known as strictly the party of unions and welfare recipients, understand the need to spur business to create jobs.

 

Rand, for me, is imbedded into the thinking of most Americans who haven’t even read the book.

 

But secondly and more importantly, libertarians and Randites fail to see the Rand-created villains that still exist today in their own ranks – namely Wesley Mooch. Mooch is a mediocre bureaucrat who becomes the nation’s economic dictator through betrayal and well-placed connections.

 

Who is Wesley Mooch today? He is the lobbyist and campaign donor; he’s also the corporate executive who wines, dines and lavishly entertains our elected officials behind closed doors. These are the people who have helped kill innovation today: look no further than our car companies.

 

Trust me, I’ve seen it. I’ve met many of these elected officials and business leaders who are nice guys but cannot intelligently, let alone intellectually, converse on issues that affect our way of life and business. Yet, they set policy; policy that’s based on who pays them – not on what’s good for America.

 

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