The Economy

All of the politicians whom we employ in Washington, D.C. have a belief that they have the answer; from the president on down. They do not; the answer to solving the economic down turn in our economy as well as the rest of the worlds is simple; it is called CAPITALISM. Ayn Rand wrote a book titled “Capitalism; The Unknown Ideal”. I can not recommend strongly enough if you have not read it you should. I also think that for all who choose to enter politics, this book be required reading.

CAPITALISM: The condition of possessing capital; the position of a capitalist; a system which favors the existence of capitalists. OXFORD ENGLISH DICTIONARY (OED)
CAPITALIST: One who has accumulated capital; one who has capital available for employment (emphasis added) in financial or industrial enterprises. OED
CAPITALISM: Is the only system geared to the life of a rational being and the only moral politico-economic system in history. AYN RAND. (AR)
“The moral justification of capitalism lies in the fact that it is the only system consonant with man’s survival qua man, that its ruling principle is: justice.” – AR, Capitalism: The Unknown Ideal, 1966.
LAISSEZ-NOUS FAIRE-“LET US ALONE”: Ayn Rand believed in Laissez-nous faire capitalism. In August 1962 a column she wrote for the Los Angeles Times starts out; [Since “economic growth” is today’s great problem, and our present Administration is promising to “stimulate” it—to achieve general prosperity by ever wider government controls, while spending an unproduced wealth—I wonder how many people know the origin of the term laisse-faire?] For the answer I again recommend reading the book.

Does what AR’s first paragraph in the 1962 article sound familiar? When reading the entirety of the article all you need do is change the date from 1962 to 2009 and you will find it is as current as can be.

As an individual business owner for the past 30 plus years I have experienced things in the course of running my business that no politician has ever experienced. All I have to do is listen to them to know they do not have a clue as to how a business works. During the campaign one candidate was confronted by a fellow who suggested he would like to buy a business that currently generates between $250,000.00 and $280,000.00 per year and was concerned that he would suddenly be taxed more money. The politician’s response was that he wanted to spread the wealth from those making as much as he would be to those less fortunate. The politician demonstrated to me how little he knew of business. If this fellow had a business generating $250,000.00 per year he would be fortunate to get for him after all operating costs $25,000.00 to $30,000.00. So much for this politician’s knowledge of business. Regardless he is claiming he has the answers.

In late June or July 2008 I read two articles that were telling indications the economy was in decline; first was stating the dollar amount of goods coming into the USA from China had decreased by $1,250,000,000.00 and second the oil companies had imported 800,000 barrels of oil per day less for the first 6 months of 2008 against the first 6 months of 2007. If that were the case in the USA it was also the case throughout the rest of the world. As you recall the price of oil started to escalate dramatically further effecting the economy in a detrimental manner. It was at this point I decided to offer my products at a discount. I was by no means the only retail company to take this step in order to preserve sales. However, when the sales of oil decreased the oil companies did the opposite, they increased the price. Their actions had a further detrimental effect on the economy. Do you think it would have been as bad as it is if they reduced their prices as well?

As a direct result of studying the teaching of AR I was able to have a better insight into how best to run my business. AR’s philosophy of Objectivism gives one a proper knowledge of how best for man to live his life; specifically for himself, not for the sake of anyone else. Many years ago I read a small article in my local newspaper that surprised me. The US government did a survey and found that after the bible the next best selling book was “Atlas Shrugged” by AR. Recently I read that sales of “Atlas Shrugged” were seven times greater in January and February 2009 than the same time period in 2008. If you read it you read what was published in 1957 is what we are experiencing today economically. I strongly recommend reading it if you have not. Once finished get copies of the other books she has written, you will be amazed at how clear all of what is going on will become for you.

Capitalism must be defended by all who love freedom; fore without capitalism more and more of our freedoms will be legislated away by those whom we voters put in office, they each and every one of them knows how best we should live our lives or so they tell us. Imagine in order to quickly learn how to live your life properly all you have to do is relocate to Washington, D.C.