The Alan Greenspan, Paul Ryan Nexus: Ayn Rand
We’ve already had an Ayn Rand acolyte as chairman of the Fed. A guy who thought unregulated markets were self-correcting. And you know where that led.
Now we have another Randian believer who may soon be a heartbeat away from the presidency. Cry the beloved country!
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Ultimately, the markets would have corrected. Granted, the world would have been in chaos and millions of people might have died while hundreds of millions or even billions were thrown into abject poverty, but had we left the finance industry alone, it would have self-corrected.
The problem with self-correction is not that it would not happen; it’s that it is often messy and unpleasant. Ultimately, the Mongols ceased to control most of Asia. The demographics self-corrected. The people who had boards nailed to them so that they could be used as benches probably never got to enjoy that correction.
Wow, Rcout!! There’s speaking truth to power! How do we turn that into a book and make it as popular as Ayn Rand? That comment speaks volumes, well said.