Capitalism 2.0: Speculator vs. Creator

One of the flaws I see in Capitalism 1.0 is that speculators get compensated at a substantially higher rate than value creators. As a result, I am hearing from more and more entrepreneurs, CEOs, senior executives – the builders, so to speak – that they are no longer willing to work 60-80 hour weeks. They feel that the system is becoming unfair. This is one of the most severe bugs in Capitalism 1.0. >>>

Capitalism 2.0: Rationality

Here are two more passages from Ayn Rand:

“Rationality is man’s basic virtue, the source of all his other virtues. Man’s basic vice, the source of all his evils, is the act of unfocusing his mind, the suspension of his consciousness, which is not blindness, but the refusal to see, not ignorance, but the refusal to know. Irrationality is the rejection of man’s means of survival and, therefore, a commitment to a course of blind destruction; that which is anti-mind, is anti-life.” >>>

Capitalism 2.0: Logic

During the elections, one of the most frustrating experiences I had was trying to have intellectual discussions with people about Obama’s policies. While I have tried to examine things with logic, they have decided to suspend logic, and rely on faith. “He will figure it out,” has been the most common line.

Well, I don’t care who “he” is, I refuse to accept this “he will figure it out,” concept. >>>

Capitalism 2.0: Character

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. >>>

Capitalism 2.0: Wealth Redistribution

This morning, Obama is giving more working capital to General Motors, keeping yet another failed company on more life-support. The market is responding by falling 300 points after a nice rally last week. The chronic deficit spending continues under President Obama-led wealth redistribution, in perfect opposition to free-market capitalism.

Here’s what Ayn Rand has to say on wealth redistribution: “Whoever claims the “right” to “redistribute” the wealth produced by others is claiming the “right” to treat human beings as chattel.” Indeed, distributing tax payer money and deficit accumulation seems to be considered the government’s “right” these days. >>>

Capitalism 2.0: The Welfare State

I have written quite a bit already about my aversion to the welfare state philosophy, the chronic deficit spending, and the ensuing entitlitis and affluenza. Here’s Ayn Rand on the problems with a welfare state and guaranteed economic security: >>>

Capitalism 2.0: Intellectual Laziness

Here’s another interesting discourse from John Galt’s speech which is a good lens through which to examine several of our recently discovered “bugs” in capitalism: sub-prime lending and borrowing, Madoff’s scam, etc. >>>

Capitalism 2.0: Is Integrity Implicit?

As we explore capitalism as a philosophy and a system of thought, I feel that one of the biggest fallacies in our assumption so far has been to expect that integrity is implicit. It is not. >>>