T Nation

Wall SJ: Predicting the Future

“If you understand the dominant philosophy of a society,” Rand wrote elsewhere in “Capitalism: The Unknown Ideal,” “you can predict its course.” Economic crises and runaway government power grabs don’t just happen by themselves; they are the product of the philosophical ideas prevalent in a society – particularly its dominant moral ideas.

pragmatism has taken hold. “we have to do something” has take the place of actual logic and reason.

FDR in a nutshell.

[quote]dhickey wrote:
pragmatism has taken hold. “we have to do something” has take the place of actual logic and reason.

FDR in a nutshell.[/quote]

That is true, and Rand would say that so long as we retain altruism as our moral code, we’ll wind up right back where we are no matter what else we do.

“Why do we accept the budget-busting costs of a welfare state? Because it implements the moral ideal of self-sacrifice to the needy. Why do so few protest the endless regulatory burdens placed on businessmen? Because businessmen are pursuing their self-interest, which we have been taught is dangerous and immoral. Why did the government go on a crusade to promote “affordable housing,” which meant forcing banks to make loans to unqualified home buyers? Because we believe people need to be homeowners, whether or not they can afford to pay for houses.”
— from the link

[quote]Headhunter wrote:
dhickey wrote:
pragmatism has taken hold. “we have to do something” has take the place of actual logic and reason.

FDR in a nutshell.

That is true, and Rand would say that so long as we retain altruism as our moral code, we’ll wind up right back where we are no matter what else we do.
[/quote]

This is what the constitution was supposed to protect against. Oligarchy and Mob rule are ridiculous ways to run a country. We are somewhere in the middle of these two. Not a good place to be.

Unbridled capitalism driven by greed has it’s own problems and it brought us to where we are today. Since greed is the motivator, when and where does it stop? How much is enough? How much can a company grow and grow and grow till it becomes a monopoly and dictates a market?

There has to be intervention on some level. Balance must be achieved. Todays situation is a perfect example of a systems greed run amok. America has been sold wholesale to foreign nations. Our factories and production base went to the lowest bidder.

We are now a country with an economy built like a house of cards. China is thriving because they make everything we used to make. Economies are built by making stuff people want. Giving employment and growth.

A single factory is responsible for creating and sustaining thousands of people. From scientists and engineers to design machines, to build machines that build better machines and on and on to the rank and file worker that mans the equipment on the production line. The list goes on and on. We have sold out wholesale in the pursuit of extra profit in the next quarter without considering the next decade or two. It’s all coming back to bite us in the ass now.

But to those on the top, those who allowed and planned and implemented what happened, well, to them capitalism is just awesome. They made out like bandits. To the rest of us it’s a lightly different picture.

http://atimes.com/atimes/China_Business/KC18Cb01.html

Take a glimpse into the future with this article. Even if Obama had the capacity to understand it, he lacks the courage and leadership to do anything about it.

In a nutshell we are fucked for the next four years and realistically until a leader comes along that actually has a plan and ideas that make sense.

[quote]hedo wrote:
http://atimes.com/atimes/China_Business/KC18Cb01.html

Take a glimpse into the future with this article. Even if Obama had the capacity to understand it, he lacks the courage and leadership to do anything about it.

In a nutshell we are fucked for the next four years and realistically until a leader comes along that actually has a plan and ideas that make sense.[/quote]

If we returned to the philosophy that made this country great in the first place, we’d have a bad depression but then a boom of unprecedented proportions. The philosophy that made this country great can be found in any of Ayn Rand’s works.

[quote]Gregus wrote:
Unbridled capitalism driven by greed has it’s own problems and it brought us to where we are today. Since greed is the motivator, when and where does it stop? How much is enough? How much can a company grow and grow and grow till it becomes a monopoly and dictates a market?

There has to be intervention on some level. Balance must be achieved. Todays situation is a perfect example of a systems greed run amok. America has been sold wholesale to foreign nations. Our factories and production base went to the lowest bidder.

We are now a country with an economy built like a house of cards. China is thriving because they make everything we used to make. Economies are built by making stuff people want. Giving employment and growth.

A single factory is responsible for creating and sustaining thousands of people. From scientists and engineers to design machines, to build machines that build better machines and on and on to the rank and file worker that mans the equipment on the production line. The list goes on and on. We have sold out wholesale in the pursuit of extra profit in the next quarter without considering the next decade or two. It’s all coming back to bite us in the ass now.

But to those on the top, those who allowed and planned and implemented what happened, well, to them capitalism is just awesome. They made out like bandits. To the rest of us it’s a lightly different picture. [/quote]

What you’re talking about is, on the one hand, not a result of capitalism at all, and on the other hand, not very accurate.

You need to look to the reasons these things happened, and you will find that though they ARE based in greed, they are NOT based in capitalism.