Ayn Rand Was Right!

Posted by live4him Views Saturday, January 10th, 2009

Like the author of this Wall Street Journal article, I read Atlas Shrugged in college. I used to laugh at its ridiculous extremes . . . until I started reading them every day in the news.

In the book, the government of a faltering United States tries repeatedly to save the economy, all while moving toward socialism. Each effort fails miserably; reducing competition simply forces the efficient businesses to close. Raising taxes on the few who are making money causes the wealthy to leave the country, taking their cash and their businesses with them. Attempts to redestribute wealth cause increasing poverty.

As author Stephen Moore puts it,

Every new act of government futility and stupidity [in the book] carries with it a benevolent-sounding title. These include the “Anti-Greed Act” to redistribute income (sounds like Charlie Rangel’s promises soak-the-rich tax bill) and the “Equalization of Opportunity Act” to prevent people from starting more than one business (to give other people a chance). My personal favorite, the “Anti Dog-Eat-Dog Act,” aims to restrict cut-throat competition between firms and thus slow the wave of business bankruptcies. Why didn’t Hank Paulson think of that?
These acts and edicts sound farcical, yes, but no more so than the actual events in Washington, circa 2008. We already have been served up the $700 billion “Emergency Economic Stabilization Act” and the “Auto Industry Financing and Restructuring Act.” Now that Barack Obama is in town, he will soon sign into law with great urgency the “American Recovery and Reinvestment Plan.” This latest Hail Mary pass will increase the federal budget (which has already expanded by $1.5 trillion in eight years under George Bush) by an additional $1 trillion — in roughly his first 100 days in office.

Rumor has it that there are plans to make a movie of Atlas Shrugged. Why bother? Just turn on the news and watch it in real time.