Why Unregulated Capitalism Is Moral 2 - Ayn Rand Institute

http://www.aynrand.org

This is part 2 of a lecture titled "Why Unregulated Capitalism Is the Only Moral Social System," delivered at the University of California, Irvine on April 14, 2008.

Dr. Yaron Brook is president and executive director of the Ayn Rand Institute in Irvine, California.

Category:

Education

Tags:

• Yaron
• Brook
• Ayn
• Rand
• Institute
• recession
• Capitalism
• Laissez
• Faire
• interest
• rate
• socialism
• George
• W.
• Bush
• economy
• housing

[soitoldhimno]

I'm really impressed that he's doing this whole lecture from memory.

[guyusj]

Great point about the artificially low interest rates.

[anlzd1]

but it destroys the environment and results in some people earning a huge amount while others earn hardly anything.

[keiv2004]

@jrmsher33 You just don't get it, right? You start your argument by forcing people!

[Brutal90Death]

@jrmsher33

That would be violating her individual rights... you FAIL

[jrmsher33]

So I can pimp your 16 year old daughter out, right? Ayn Rand believed in legalizing prostitution and since government and economics are independent under your system it would be a crime to forbid me to. I'd pay her more than Walmart would pay their prostitutes. Of course, I would be living in a home I rented from Walmart since there are no monopoly laws so they'd probably kick me out of there because competition isn't in their best interest and whatever is in a corps. best interest is right. no?

[nobodady1]

Great lecture, especially regarding artificiality of interest rates inviting the frenzy and later collapse, but the speaker is misinformed about CRA credits and subprime products. Most of the failing subprime mortgage products were not under the purview of CRA, and were created and chopped up following the relaxation of certain regulations.

[Pseudologic]

@JordanViewer Then I assume you must live in Somalia, that libertarian heaven with no democracy, no government and plenty of guns?

[JordanViewer]

@Pseudologic

your name is fitting. democracy is the majority violently asserting ownership over the individual. That is slavery, not buying food from a grocery store.

[PureAdrenaline97]

Peter Schiff/Yaron Brook 2012!!!???!!!

[greenfury87]

Right off the bat, the first sentence, is wrong. We have a LOT of market activity, and a LITTLE regulation. Its the other way around.

[Pseudologic]

@LeifRunenritzer Most utility companies are monopolies or oligopolies. Therefore you don't have a choice you can't switch. Then again, how does an average Joe knows hes being gouged? He doesn't have the skills or energy to compare his bill and know if he's being gouged. People are not always rational in economical sense, so it's up to government to set up oversight agencies that monitor abuses by monopolies and oligopolies. And in case of HMOs that's exactly what's happening.