Ayn Rand: Smeared Again – My Defence
October 25, 2008 by Paul McKeever
The Toronto Star newspaper has today (October 25, 2008) published an editorial titled “Twilight of the Oracles”. It takes aim at Alan Greenspan. It focuses on a quotation from Greenspan’s testimony in which he allegedly (I didn’t watch or hear the testimony) said “free markets did break down”. And then it does the all too easy: it mentions that Ayn Rand, author of Atlas Shrugged, “impressed” him with statements like “”The only way a government can be of service to national prosperity is by keeping its hands off.” It then proceeds to call that a “counsel of neglect”, and condemn’s Rand’s views as “a cruel joke to millions losing jobs and homes”. Thusly, the Star gave us all a solid example of how dishonesty is inherent in socialism and its proponents. Accordingly, I wrote the following letter to the editor.
I publish it here, fully expecting the Star not to publish it. I nonetheless encourage you to write a letter to the editor of the Toronto Star ( firstname.lastname@example.org ) in response to its smearing of Ayn Rand and laissez faire capitalism.
Re: Twilight of the oracles (October 25, 2008 – Editorial)
Alan Greenspan’s primary role, as head of the federal reserve, was to regulate the rate at which the supply of American dollars grew. With Greenspan at the helm, the government intervened in the economy. That government intervention facilitated and encouraged easy credit, bad loans, and bankruptcies.
Such government intervention, together with the added intervention of bailing-out banks with taxpayer earnings, is all contrary to the laissez-faire capitalism that Ayn Rand, the author of Atlas Shrugged, impressed upon Greenspan in his youth.
Condemning Greenspan and government intervention for the hardship now being felt by many is fair game. Condemning Ayn Rand and anti-interventionist admonitions is not. Were she alive today, her words would be “I told you so“.
Leader, Freedom Party of Ontario
Author and Host of the Defending Ayn Rand video series on YouTube.com/paulmckeever
Ayn Rand, interviewed by Mike Wallace (Part 2 of 3)