Opinion Editorial | |
| Wednesday, October 8, 1997 | |
Atlas Shrugged a Milestone of Capitalism |
Forty years ago this month, one of the most influential books in American
history was published. "Atlas Shrugged" by Ayn Rand was a massive
best-seller that continues to sell hundreds of thousands of copies yearly.
Always popular on college campuses (among students, not faculty), Atlas
sparked the origins of the modern libertarian movement in America. Its enduring
influence was marked by a major conference in Washington last Saturday,
co-sponsored by the Cato Institute and the Institute for Objectivist Studies. By now, the general outline of Rand's novel is familiar even to those
who never read it. It is the story of how government harassed and persecuted
the industrialists and businessmen of America in the name of equality and
justice for the oppressed. As the weight of government grew, the businessmen
began producing less and less, leading to impoverishment for the whole society.
Finally, the businessmen, under the leadership of John Galt, Atlas's lead
character, revolt and overthrow the government's shackles, bringing forth
a new era of economic freedom and prosperity. One of the interesting things about Atlas is that although Rand viewed
the businessman, the producer and the entrepreneur as heroes, she had nothing
but contempt for their timidity and unwillingness to defend themselves against
the relentless onslaught of the collectivists and statists. This was endemic
to their nature, she believed, and she was right. The business class can
never and will never be a bulwark against socialism. Indeed, as Lenin once
noted, businessmen all too often will sell their enemies the very rope with
which they are to be hanged. Capitalism is the source of all wealth, in Rand's view. But her support
for unfettered capitalism went far beyond mere efficiency and utilitarianism.
To Rand, capitalism is the only morally and ethically correct economic system,
because it is based on voluntary exchange and not coercion. Therefore, it
is the responsibility of everyone, not just the businessman, to support
and defend capitalism. Indeed, it is a moral imperative. One is still taken aback by this unabashed, unapologetic and enthusiastic
support for capitalism. But it was even more remarkable when Atlas was published
in 1957. Capitalism's defenders were few and far between, limited to a few
obscure economists like Ludwig von Mises and F.A. Hayek. The governments
of the world were nationalizing industries left and right, labor unions
were at the pinnacle of their power, the success of Sputnik gave Communism
enormous worldwide respect, and greed was just about the dirtiest of all
words. A generation later, Communism is kaput, privatization has replaced nationalization
almost everywhere, and the power of the labor unions is but a shadow of
what it once was. Today there are well-financed, increasingly influential
think tanks like the Cato Institute, dedicated to supporting and defending
capitalism and economic freedom. Rush Limbaugh rules the radio, Republicans
control Congress, and a Democratic president takes pride in having abolished
the federal entitlement to welfare. The speakers at Saturday's conference were unanimous in crediting Atlas
and Rand for capitalism's reversal of fortune. It is a point that is hard
to prove, however. Except for Alan Greenspan, chairman of the Federal Reserve,
it is difficult to find any prominent politician or policymaker who directly
credits Rand for his thinking. Yet clearly Rand has had an enduring influence,
if only indirectly. She invigorated the libertarian movement more than any
other writer or thinker in history; inspiring and motivating virtually everyone
who has ever identified himself or herself as a libertarian. But most importantly,
Rand established the moral foundation of capitalism for the first time.
Impressive accomplishments for a mere novelist. Source: Bruce Bartlett (senior fellow, National Center for Policy Analysis),
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