Consequences of Obama's Bankrupt Philosophy

By:  Ralph R. Reiland
07/27/2011
       
Consequences of Obama's Bankrupt Philosophy

In her essay "For the New Intellectual," Ayn Rand warned that the United States would go bankrupt — financially and morally — if we allowed intellectuals and political leaders to define commercial pursuits as inferior to noncommercial pursuits, if we permitted the productive and the creators of wealth to be defined as looters, and if we refused to see the unrestricted growth of government power as a threat to freedom. To avoid national bankruptcy, Rand called for an intellectual defense of business and capitalism, a defense of productivity, success, individualism and wealth. She said we are fed instead a steady diet of "the whining injunctions that we must love everything, except virtue, and forgive everything, except greatness."

Said Austrian economist and social philosopher Ludwig von Mises, "Under capitalism, the common man enjoys amenities which in ages gone by were unknown and therefore inaccessible even to the richest people."

In her essay "For the New Intellectual," Ayn Rand warned that the United States would go bankrupt — financially and morally — if we allowed intellectuals and political leaders to define commercial pursuits as inferior to noncommercial pursuits, if we permitted the productive and the creators of wealth to be defined as looters, and if we refused to see the unrestricted growth of government power as a threat to freedom. To avoid national bankruptcy, Rand called for an intellectual defense of business and capitalism, a defense of productivity, success, individualism and wealth. She said we are fed instead a steady diet of "the whining injunctions that we must love everything, except virtue, and forgive everything, except greatness."

Said Austrian economist and social philosopher Ludwig von Mises, "Under capitalism, the common man enjoys amenities which in ages gone by were unknown and therefore inaccessible even to the richest people."

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Professor Ralph R. Reiland (photo)

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