19th-Century Capitalism Didn't Create Poverty, But Reduced It

Here's an article by Yaron Brook and Don Watkins on the near-laissez-faire capitalism of the 19th Century:

Capitalism In No Way Created Poverty, It Inherited It

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The Nature of the Morality of Rational Egoism: Short Notes

A Philosophy Professor Discusses Ayn Rand in his Ethics Class

Dr. Gregory Sadler of Marist College recently discussed Ayn Rand's The Virtue of Selfishness in his Spring 2013 Ethics class and posted the video to YouTube:

Dr. Sadler is not an Objectivist, but he gives what is, in my view, a good introductory presentation on Rand's ethics. I encourage anyone interested in the broader study of Rand in academia, to watch this video (at least in part) and leave polite comments on the YouTube video page.

My main critiques of Dr. Sadler's presentation have already been voiced in the page comments. They are the following:

Overall, this is a very good presentation of Rand's ethics. Thank you, Dr. Sadler.

Just a few points: Contrary to 52:48, Rand wouldn't say the choice of friends is arbitrary, but ought to depend on their objective virtues/values. Vicious people harm one's own life when you're involved with them; virtuous people typically benefit one's own life.
Also worth emphasizing: Man *creates* wealth/values (material and spiritual) by acting on proper reasoning. There isn't a fixed "pie."

Also, Rand regards virtues as eminently practical. A breach of integrity has very real, self-destructive consequences in the long-term. There is no gap between morally principled action and practical action. (Practical for achieving long-term flourishing.)
Finally, "Ayn" rhymes with "mine." : )

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The REAL Fiscal Cliff

While politicians and the mainstream media in the US have been busy talking about the tax laws that expire at the end of 2012, we are approaching the real "fiscal cliff" very rapidly. This cliff is further in the future and no one knows exactly when we will fall over it, but the US will fall over it if it doesn't change direction immediately and drastically.

The US Federal debt currently stands at over $16.3 trillion and is rising by about $1 million every 40 seconds. The CBO projects massive annual deficits for the next 10 years.

The economist, Peter Schiff, spells out the harsh reality of the situation the US is getting itself into in the following set of videos:

QE stands for "Quantitative Easing," where the the Federal Reserve creates new money and uses it to buy financial assets directly from banks. QE generates an increase in the money supply.

To paraphrase Ayn Rand: The majority of people in the US can ignore reality, but they can't escape the consequences of ignoring reality.

The Federal Reserve is setting the US economy up for another huge crash and a round of hyperinflation. Yet, given our history, it is not hard to predict that when the big crash happens, "scheming businessmen" and/or "unscrupulous financial traders" will take the blame from the mainstream media and dominant public opinion.

This Objective Standard article describes the deeper philosophical problem: The Moral Cliff

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Rachel Maddow Fails "Ayn Rand 101"

At the link below, Don Watkins of the blog, Laissez-Faire, describes Rachel Maddow's misrepresentation of Ayn Rand's philosophy. Anyone who actually reads Atlas Shrugged should be able to tell that Maddow's statement is a misrepresentation. Yet this seems to be a rather common falsehood passed around by Rand's detractors.

 Rachel Maddow Fails "Ayn Rand 101"

 Here is a YouTube video of her misrepresentation: Maddow Misrepresents Rand @ 8:30