Gillis: Rand's novel offers lessons for current economic crisis
June 9, 2009
Reading the business section of any newspaper today can be a scary venture into reality. It became even more so for me as I recently scanned the section's various commerce-related reports.
My initial glance at the top of the page provided a photograph of President Barack Obama surrounded by a story about the administration's unveiling of new automobile standards. We were told the industry must comply with new federalized requirements for smaller, lighter and more efficient vehicles.
Forget that the changes may cost more in production and, in turn, for the customer. Don't worry about how it will affect those who must depend on different standards to conduct their businesses. And, let's not concern ourselves with what the consumer really wants. Big Brother is now running the automobile industry.
As I continued to peruse the business page, I read how the government agency that insures pensions for 44 million Americans has amassed a record $33.5 billion deficit. This is the federal operation that protects at least a portion of the pensions of employees.
Its director predicted a time coming when the growing problem will require congressional attention. We can guess what that probably means.
Moving on in my increasingly depressing review of business I find that General Motors may not ultimately meet the U.S. Treasury's requirements. Several obstacles preventing compliance have driven the giant automobile producer into bankruptcy, which will have a domino affect throughout the country.
A final article read prior to departing to the comics section addressed government's restructuring of credit card practices. Now, whether you believe its actions were correct or not, the fact remains that government is running business. More than 80% of this single business page was devoted to government intervention into free enterprise.
My brief journey into the world of "USA, Inc." reminded me of a novel written by Ayn Rand more than 50 years ago. It was a best-selling book titled, "Atlas Shrugged." I had forgotten about it until a friend recently brought it up.
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Ms. Rand's book tells how industrial and business leaders refuse to allow the government to exploit free market efforts in the name of what it identifies as the general good of the country.
The main character in the novel views society collapsing as the government asserts increasingly greater control over businesses, while the nation's most productive citizens progressively disappear led by a dedicated capitalist.
The protagonist's efforts in the story is to withdraw the strategic thinking that drives market growth and productivity. In doing so, these creative minds that produce the nation's goods and services hope to demonstrate that the economy specifically and society in general would collapse without the profit motivation of a rational and productive capitalistic nation.
Rand's novel expressed her philosophy regarding an advocacy of reason, individualism, the market economy and the failure of government. At the time it was published, "Atlas Shrugged" received many negative reviews, but became popular realizing consistent sales for the next 10 years.
We now are seeing people taking another look at the fictional piece. Earlier this year, it ranked 33rd among Amazon.com's top-selling books. What might that say?
At a time when all around us seems to be somewhat confusing, it is difficult to separate reality from fiction. Perhaps Rand's fictional novel will become a practical guide for true recovery.
Ms. Rand's book tells how industrial and business leaders refuse to allow the government to exploit free market efforts in the name of what it
identifies as the general good of the country.
The main character in the novel views society collapsing as the government asserts increasingly greater control over businesses, while the nation's most productive citizens progressively disappear led by a dedicated capitalist.
The protagonist's efforts in the story is to withdraw the strategic thinking that drives market growth and productivity. In doing so, these creative minds that produce the nation's goods and services hope to demonstrate that the economy specifically and society in general would collapse without the profit motivation of a rational and productive capitalistic nation.
Rand's novel expressed her philosophy regarding an advocacy of reason, individualism, the market economy and the failure of government. At the time it was published, "Atlas Shrugged" received many negative reviews, but became popular realizing consistent sales for the next 10 years.
We now are seeing people taking another look at the fictional piece. Earlier this year, it ranked 33rd among Amazon.com's top-selling books. What might that say?
At a time when all around us seems to be somewhat confusing, it is difficult to separate reality from fiction. Perhaps Rand's fictional novel will become a practical guide for true recovery.
David Gillis of St. Clair is a Times Herald community columnist
