Ayn Rand was mostly correct when she wrote her magnum opus “Atlas Shrugged.” She was incorrect in one important area. She assumed the final option for the wealthy and entrepreneurial class [...]
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For anyone interested in learning about Money, Banking and Business Cycles, I highly recommend this book. It is massive and an excellent treatment of the subjects from an Austrian perspective. Furthermore, its price is about 1/3 of what I paid. Outstanding bargain and outstanding presentation.
Money, Bank Credit, and Economic Cycles
Only a few 2nd edition copies remain! Get them while they last!
Jesús Huerta de Soto, professor of economics at the Universidad Rey Juan Carlos, Madrid, has made history with this mammoth and exciting treatise. He integrates sweeping history and rigorous theory to make the good-as-gold case that the institutions of money and banking can be part of the free market — without a central bank, without bailouts, without inflation, without business cycles, and without the economic instability that has characterized the age of government control.
My recent post regarding Atlas Shrugging produced a well-written comment from reader Michael Brown (website here). Mr. Brown is an obvious Ayn Rand supporter (as am I mostly) and presents some interesting perspective on Ms. Rand. For those Rand supporter or bashers, these comments are reproduced:
Contrary to so much of the disinformation out there about her, it isn’t the case that Ayn Rand was against charity. She was personally charitable to her friends and donated to help Israel defend itself. In her own words: “My views on charity are very simple. I do not consider it a major virtue and, above all, I do not consider it a moral duty. There is nothing wrong in helping other people, if and when they are worthy of the help and you can afford to help them. I regard charity as a marginal issue. What I am fighting is the idea that charity is a moral duty and a primary virtue.”
Her point was that you have to have a healthy non-charitable sector in order to be able to provide charity, and that economic freedom (and nothing else) provides that health. How much can one donate if one is starving or dies at age 35, as before technology one did.
Government welfare is a perversion of charity because it is ill-managed and cripples the productive sector over time. Look at the tens of trillions in unfunded liabilities that are going to cripple our economy; and it’s just going to get worse unless we get the system right.
One part of the foolishness of the recent debates about Rand is the idea that agreeing with Rand’s prediction and diagnoses in “Atlas Shrugged” – the accuracy of which has been demonstrated in the last few years to a nicety – somehow magically commits one to agreement with her total philosophy. Would this argument be extended to an atheist leftist who recommends Tolstoy or Victor Hugo?
The other part is a specific misrepresentation of Christianity. Christianity is not a pro-Statism religion; indeed, given who killed their Savior, it tends to the anti-State. (This is something the left has not yet dealt with.) Nowhere in the Bible does it say that wealth should be expropriated and redistributed by the dubious means of government structures; it speaks of personal and *voluntary* charity. One might add, looking at the horrific debt and unfunded liabilities situation that the U.S. is in right now, that the Bible and Jesus were wise in staying away from government panaceas.
This entire kabuki charade is in bad faith. The Bible does not advocate any Progressive notions of “economic justice.” The progressives who have suddenly discovered religion and its necessary role in politics – after thirty decades and more of stridently and rightly insisting it must be kept out of politics – are not sincere. After this temporary rhetorical bubble is over, they will resume their previous, also ad-hoc, declarations.
As for the “sociopath” accusation, this is what comes of copying attack website garbage. The whole thing rests upon one author – Michael Prescott’s – highly selective excerpting and chopping up of a private [i.e., thinking out loud without clarifications ] journal written when Rand was barely out of her teens, fresh from the blood bath of 1920s Soviet Russia – and still made it very clear that her read on the personalities of the observers showed that they were not appalled by Hickman’s crime – she said there had been far worse, without the same spectacle of glee – but by his flamboyant and mocking defiance of society. She – who was writing about a *legally innocent man* at the time of the trial – even called him a monster, a pervert, a repulsive and purposeless criminal. Enough with the disinformation and – yes – Satanizing of Ayn Rand.
Isabel Paterson — One of Three Key WomenFreedom lovers should learn about Isabel Paterson and her important place in the history of the freedom movement. Doug French provides an article discussing her. Among the tidbits in his [...] |
When Money DiesA review: There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic [...] |
See the Socialistic FutureSocialism lives and continues to grow. Now you can see its future (and yours) as clearly as one gentleman did in 1893! There is no other social organization that has been [...] |
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Classical Liberal BooksThis article by Gary Gibson provides a list of books for those interested in exploring libertarian ideas and/or classical liberalism. For beginners, I would suggest you start with numbers 1, [...] |
Walter Williams InterviewJason L. Riley of the Wall Street Journal has an interesting interview with Walter Williams entitled “The State Against Blacks.” The title references a book written by Mr. Williams in [...] |
Hazlitt’s Great Book — Economics in One LessonEconomics in One Lesson, by Henry Hazlitt, is a book that should be required reading for every high school student. The book is easily read and beautifully written and should [...] |
Mises Institute — Top 10 BooksFor those interested in freedom and Austrian economics, there is no better source than the Misese Institute. Here is Jeffrey A Tucker’s description of their top ten books: This is [...] |





Reading List
Atlas Is Shrugging In The US And Flexing His Muscles Elsewhere
Hazlitt's Great Book -- Economics in One Lesson
An American Future -- Another Take
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