The Horrors of an Ayn Rand World: Why We Must Fight for America's Soul
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With industry no longer restrained by carbon-emission standards, the earth would bake in self-generated heat, ice cap melting would accelerate, extreme weather would become even more commonplace, and seacoasts would sink beneath the waves. Communities ravaged by hurricanes, floods and tornadoes would be left to fend for themselves, no longer burdening the conscience of a selfish, guilt-free world.
The poor and elderly, freed from dependence on character-destroying, government-subsidized medical care, would die as bravely and in as generous quantities as in the romantic novels of a bygone era.
Minimum wage laws would come to an end, providing factory owners and high- tech startups alike with a pool of cheap labor competitive with any fourth-world kleptocracy.
All laws protecting consumers would be erased from the statute books.
Mass transit would grind to a halt in the big cities as municipal subsidies come to an end.
Corporations would no longer be enslaved by antitrust laws, so monopolies and globe-spanning, price-fixing cartels would flourish. The number of publicly held corporations would be reduced to a manageable, noncompetitive few. Big Pharma would manufacture drugs without adequate testing for safety and efficacy—deterred only by concern for their reputation, as described by Greenspan in 1963. Except that with competition reduced by mergers and legal price-fixing, the market would be a feeble substitute for even the FDA.
Securities laws and stock market regulations would be eliminated.
Corporations would operate in secret if they so desired, or with only selective, cursory disclosures to their investors and customers. Only outright fraud would be prosecuted; otherwise the public— a concept no longer recognized as valid— would be on its own.
Insider trading, now legal, would become the norm. Wall Street now would truly be a sucker’s game. “Let the buyer beware” would replace the fifty state regulators and the SEC.
Income taxes would end, so the lowest-paid, ten-cent-an-hour, non-OSHA-supervised factory workers would enjoy wages taxed at the same rate—zero—as their billionaire bosses in distant cities and foreign lands. Dynasties of American royalty would arise, as fortunes pass from generation to generation, untaxed.
Nonprofit organizations, apart from those serving the egos and social calendars of the self-indulging rich, would see their funding dry up as government support vanished. The super-wealthy, having repudiated their “giving pledge,” would now enjoy their riches without guilt, no longer motivated to share their billions with the poor. Philanthropy would be an obsolete relic of discarded moral codes and forgotten history.
Such is the Ayn Rand vision of paradise: an America that would resemble the lands from which our ancestors emigrated, altruism confined to ignored, fringe texts, grinding poverty and starvation coexisting alongside the opulence of the wealthy. Los Angeles, Chicago, and New York would become like Cairo and Calcutta, with walled enclaves protecting the wealthy from the malnourished, uneducated masses outside.
Yaron Brook was right. What’s at stake is not a political issue, but a moral, philosophical issue. In large numbers, Americans have, sometimes unwittingly, abandoned the moral code upon which they were raised. They have done so because of a master storyteller.
Ayn Rand’s stories of noble steel barons, fierce railroad magnates and sniveling government bureaucrats formed the basis of her ideology. It is a compelling narrative, and Oliver Stone’s abortive approach to The Fountainhead suggests a remedy to the Rand narrative: a counternarrative—one that celebrates a creator with a conscience; government not as a Soviet gun but as a builder, a benefactor. It is an optimistic vision, born in an America of hope and not a Russia of despair and privation. This counter-narrative can recognize the merit of individuality and self- interest, while rejecting her celebration of the darker impulses— greed and selfishness.