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Capitalism 2.0: Character

Posted on Tuesday, Mar 31st 2009

I have to say that one thing our new president does not lack is character. He is doing what he said he would do: redistribute wealth and perpetrate socialism. He is very consistent with his campaign rhetoric, and that is refreshing to see in this world full of two-faced people with no character.

Well, on that topic, and since we’ve had a number of comments on this series about character, integrity and conscience, let’s take a look at what Ayn Rand has to say about each:

“We have only two sources of information about the character of the people around us: we judge them by what they do and by what they say (particularly the first), proclaims John Galt in his radio address.

Rand writes, “Just as man’s physical survival depends on his own effort, so does his psychological survival. Man faces two corollary, interdependent fields of action in which a constant exercise of choice and a constant creative process are demanded of him: the world around him and his own soul (by “soul,” I mean his consciousness). Just as he has to produce the material values he needs to sustain his life, so he has to acquire the values of character that enable him to sustain it and that make his life worth living. He is born without the knowledge of either. He has to discover both—and translate them into reality—and survive by shaping the world and himself in the image of his values.”

Barack Obama is governing America precisely in the image of his own values. Socialist values. Those are the values he championed in his campaign.

And those are precisely the values that made me very nervous during the campaign, and why, despite my respect for the man, I was not thrilled about Obama’s ascendancy to the American presidency.

Because, I did sense that we have a man of character in President Obama. A man with values. A man who intends to live by those values, and not blow with the wind as politicians more often than not do.

And as a result, we are faced with the risk of a systemic destruction of free-market capitalism, a value that I still believe in, even though I am happy to acknowledge that it needs some tweaks.

What I don’t think Capitalism 2.0 needs is a complete negation of Capitalism 1.0.

This segment is a part in the series : Capitalism 2.0

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Why do you think there’s any reason for concern about the negation of “Capitalism 1.0”? Who’s negating it?

Tyler Tuesday, March 31, 2009 at 10:08 AM PT

Current policy suggests that we’re living in a socialist system with trillions of dollars being spread around, in absolute contradiction to Capitalism 1.0.

Sramana Mitra Tuesday, March 31, 2009 at 10:19 AM PT

Reads like the Rush type of stuff designed to provoke (and provide) strong reactions. Do if McCain were President would he had a $0 stimulus plan? Would he ignor health care 100%? Would he not put any new regulations in place on the banking/finance establishments? Seems to me what this country needs more of is balance, oh sorry, pundits call that “moderation.” How politically naive I must be to think this is possible.
I’ll give the new administration more than 100 days to pass final judgement.
But, as Sramana states, at least he’s doing something and passionate about it. Time will tell how right or wrong that “something” turns out to be..but make no mistake, we’ll never know what the “other choice” results might have been…though we’ll never stop Monday-morning-quarterbacking it on the blog-o-sphere.

HaloHead Wednesday, April 1, 2009 at 11:40 AM PT

This series is not about McCain. Pls keep the discussion focused on what a better system would be.

And please read the full series, before making off-hand comments. There is a whole post dedicated to regulation – the need for effective regulation.

And please don’t be cynical about critical thinking. The fact that the country and the world is “thinking” and “discussing” is a wonderful thing.

Sramana Mitra Wednesday, April 1, 2009 at 11:45 AM PT

I do not think country is heading towards negative capitalism. To block the excess of the capitalism the country needs to find a middle ground between welfare and capitalism.
My problem with capitalism (as implemented in US of A) is that when it was started, it was a philosophy that rapidly turned into an economic theory and now it has become a sort of a religion, where the faithful thinks his religion would help him out of any mess without proper assessment of the mess.
You started the whole series with a good analysis, but in the middle of the analysis the series has become something like “Random Notes On Ayn Rand’s Writings On Capitalism”. You are acting like a religious zealot who will not keep the discussion logical and fact based if the facts have a tendency to contradict your belief system. Then what is the difference between you and Rush Limbaugh except the facts that you are not talking on a Radio and are not on drugs?

Sid Tuesday, April 21, 2009 at 10:31 AM PT


Sramana Mitra Tuesday, April 21, 2009 at 10:35 AM PT