Saturday, September 27, 2008

The Resurgence of Big Government

ARC and Yaron Brook has a great new video on their website, The Resurgence of Big Government.

I highly recommend.

America entered the 21st century riding a wave of prosperity brought on by two decades of increasing economic freedom—yet our current decade has seen an explosion in the size and reach of government. Today we hear from all sides that the source of our economic troubles is capitalism, and that the solution is more regulation, more controls, more government.

In this talk, Yaron Brook discusses why Americans began to embrace free markets during the ’80s and ’90s—and why this trend could not last. He argues that capitalism had proved itself to be the only economic system capable of achieving lasting prosperity, but that a crucial failure on the part of capitalism’s defenders made the resurgence of big government inevitable.

Using our current housing and financial crisis as a case study, Dr. Brook shows how the inability of capitalism’s advocates to provide a moral defense of self-interest and the profit motive—essential characteristics of capitalism—led Americans to view government intervention as the cure for economic disasters allegedly brought on by “market excesses” and unrestrained “greed.”

Finally, Dr. Brook shows how Ayn Rand’s revolutionary morality of rational egoism completes the case for capitalism and thereby makes possible a permanent end to big government.

The Real Lesson of the Great Depression

From a recent posting on the Ayn Rand Center website:

Most people believe the Great Depression was caused by an ‘excessively’ free market--and they regard the massive expansion of government intervention under FDR as its cure. But as many economists have demonstrated, it was government intervention that caused and exacerbated the Depression--from the massive tariffs of Smoot-Hawley to a series of disastrous interest rate hikes by the Federal Reserve to antibusiness measures such as the National Recovery Act.

The Real Lesson of the Great Depression