In this 1961 video address to the American Management Association, Ayn Rand examines why capitalism is under constant attack despite its record of success compared to socialism’s record of failure. Rand’s discussion examines the nature of altruism and its incompatibility with capitalism, the three futile arguments that conservatives use to defend capitalism, and the nature of the moral crisis confronting the world. Rand urges businessmen not to abandon the realm of ideas to their enemies, to be proud of working for their own self-interest and to stop supporting their own destroyers.
This video lasts 28 minutes.
About the Author
Ayn Rand created and defined her philosophy, Objectivism, in the pages of her best-selling novels, particularly The Fountainhead and Atlas Shrugged, and in a series of nonfiction books that address a wide range of fundamental issues in philosophy.
Born Alisa Rosenbaum in Tsarist St. Petersburg in 1905, Rand witnessed the Russian Revolution as a teenager and promptly condemned communism as immoral for sacrificing the individual to the collective. In 1926, shortly after graduating from the University of Leningrad, she fled to America, adopting the pen name Ayn Rand to shield her family from possible persecution once her anti-communism became well known.
In Hollywood, she wrote scenarios for famous director Cecil B. DeMille and met her future husband on a movie set, but the couple struggled financially for years. Then came a string of writing successes: a Broadway play, followed by her first novel, We the Living (1936), then a novella called Anthem (1938), and later her first best seller, the story of a fiercely independent architect named Howard Roark in The Fountainhead (1943). All these works of fiction feature gripping stories and exalted, egoistic, this-worldly heroes.
In writing Atlas Shrugged (1957) — the story of a man who said he would stop the motor of the world, and did — Rand had to define fully her new philosophy of reason, rational self-interest, and laissez-faire capitalism.
Thereafter, and until her death in 1982, Rand amplified and explicated her “philosophy for living on earth” in a stream of books whose theoretical essays and cultural commentaries cover important topics across the five major branches of philosophy: metaphysics, epistemology, ethics, politics and esthetics.
A collection of essays that demolish many of the myths surrounding laissez-faire capitalism and explain, in theoretical and historical detail, why Ayn Rand regarded it not merely as an engine of economic progress, but as a profoundly moral social system.
Leonard Peikoff explains why capitalism is the only social system consistent with a rational morality. Stressing the connection between morality and a free market, Peikoff discusses the relation between egoism and the profit motive, justice...