In Ayn Rand's famous philosophic novel, Atlas Shrugged, leading entrepreneurs and businessmen go "on strike" as a way of protesting socialism.
Eventually this strike causes the economy to collapse which in turns causes politicians to finally understand the true value of those who actually create wealth and prosperity.
It's a good story, but alas it's only fiction.
In real life, the majority of politicians, and for that matter most of the general public, have virtually no understanding as to how capitalists and entrepreneurs, when allowed to operate in a free market, benefit society.
In fact, if anything an anti-entrepreneur bias permeates our culture. Or least it permeates our popular culture. Just consider, for instance, how in movies and TV shows, successful business people are inevitably portrayed as "greedy" or "corrupt" or "heartless."
Indeed, these days the prejudice against the free market and those who make it work, has reached a near hysteric level, as pundits, politicians and others seek to pin blame for the current economic slowdown on what they like to call "corporate greed."
What these critics don't understand, of course, is that the same free market system they like to rail against is also the same system which has made our society the most prosperous in history.
And besides being the most efficient way to create wealth, the free market system also happens to be morally superior to its main economic alternative -- socialism.
Free markets are based on choice; socialism on compulsion.
So why don't people get that?
Well to fully answer that question would probably take a book or two.
But here's one key reason: the people who the make the free market system work -- i.e. entrepreneurs -- are often like the rest of the population; they don't understand the values which underpin capitalism.
Consequently, they all too often fail to defend themselves in the market place of ideas.
They cede the moral high ground to leftists, to politicians and to assorted other anti-free market types. Rather than standing up for free markets, business people often become defensive, sometimes even apologizing for being capitalists.
This is a problem because if business people don't stand up for capitalism, who will?
This is why an organization in the United States called the Bastiat Society exists. Named after the famed French economic theorist Frédéric Bastiat, the society's purpose is to "educate other wealth creators on their right to the moral high ground."
The motto of the group is "Those who work in freedom should know how freedom works."
Canada should sure could use a group like the Bastiat Society. Entrepreneurs in this country need to be convinced that they are the good guys.
But of course, having principled arguments is not enough.
It's also necessary for business people to know how to get their message across to the media.
Unfortunately, for many entrepreneurs and business people, the media is nothing but a massive mystery. Indeed, if they think about the media at all, it's how to avoid it.
This is a mistake.
Business people should be using the media to get their message out; just as the left uses it so effectively to get out their message.
Only in this way will supporters of free markets win the war of ideas. Only in this way will they change public attitudes about the value of the free enterprise system.
In other words, rather than watching the current economic debates from the sidelines, entrepreneurs must be active participants.
The bottom line is entrepreneurs are truly the heroes of our free market system.
It's time they started acting like it.
Robert Greenwald: Will President Obama Side With the Koch Brothers or American Families?
Jerry Kroth: Steve Jobs and the Essence of America
Second mistake. John Galt is interchangeable, as are all entrepreneurs. If you can come up with an invention or an idea, no matter how closely you guard it, someone else can do so in due time. Knowledge does not favor revealing itself to any one person. If John Galt flees, others can take his place. Most likely others who want to eat.
Third mistake. Entrepreneurs mean nothing without someone to buy their goods. Consumers build wealth just as much as entrepreneurs.
Fourth mistake. Laissez-faire capitalism is as unrealistic an idea as pure Communism. It depends on perfect informed consent and perfectly rational choices. This is why there has never been a truly laissez-faire capitalist society. (And Hong Kong does NOT qualify.) Such a system will be quickly brought down by human corruption.
However there is hope for people like Gerry Nichols. Its called the Seasteading Institute. This organization is taking donations for the construction of an artificial island that practices true laissez-faire capitalism. Mr. Nichols, have you donated? http://seasteading.org
If entrepreneurs want a truly free market without regulation try Somalia.
And yes, let us not speak of that horrible immoral menace known as socialism, whose central tenet is that workers should own the means of production. Imagine if the workers owned the results of their own labor! Where would hapless capitalists be then?
An when we had the Bretton Wood agreement 1945-1975; Not the World Trade Oraganization.
The prosperous middle class grew from 1945-1970, which was the 70% consumer power that was the engine of growth. We were not a debtor nation to China then.
Now China is the engine of growth, but not for this country, only the Multinationals that are making money in other countries and keep that money in off-shore bank accounts.
Thomas L. Friedman’s new book: Great read.
“That Used To Be US : What Went Wrong with America And How It Can Come Back”
Quotes from the book.
America has a huge problem. It faces four major challenges, on which its future depends, and it is failing to meet them. Globalization, the revolution in information technology, the nation’s chronic deficits, and its pattern of energy consumption—and spell out what we need to do now to rediscover America and rise to this moment.
They explain how the end of the cold war blinded the nation to the need to address these issues. They show how our history, when properly understood, provides the key to addressing them, and explain how the paralysis of our political system and the erosion of key American values have made it impossible for us to carry out the policies the country needs.
Baloney! The contrived "free market" system setup by the neo-cons is a new from of capitalism that is far too extreme for a healthy society. We need to return to a fair and balanced market, such as America had during our best times.
Extremism of any form is bad for us, including extreme capitalism.
What I am asking is that since we have been borrowing money for the last ten years to fight 2 wars and bail out banks for their bad decisions, that the companies that profited from this federal spending now actually pay taxes on their incomes.
GE has made 100s of millions of dollars in defense sales over the last decade - 2010 taxes paid: $0
Bank of America bailed out by the taxpayers and mad record profit in 2010 - but paid $0 in taxes.
This is not "blame the rich." This is telling you to carry your share of the burden. Shut up and Get over it.
Below is a quote from Adam Smith “ The Wealth of the Nations”.
As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce.
Adam Smith
If you are correct why are there NO Banksters in jail for the Fraud that destroyed our economy. The Fraud is plainly there for all to see, so why do Banksters get away with breaking the Law? In a "Free" Capitalist Market, there should not be a Get-Out-Of-Jail Free Card for the elites. The only reason the Bankster Elites are not in jail is because they own our government.
We need to let the corporations know that we will appreciate them hiring Americans to get the Recovery going:
http://www.flixya.com/blog/3201910/Beautiful-Butterflys
The Great Depression
The Great Recession..