Adam Smith vs. Ayn Rand - Ayn Rand Center for Individual Rights

www.aynrandcenter.org

Peter Schwartz, former chairman of the board of directors of the Ayn Rand Institute, is asked what the difference is between Objectivism's political philosophy and that of Adam Smith's.

Category:

Nonprofits & Activism

Tags:

• Ayn
• Rand
• center
• institute
• Objectivism
• Objectivist
• Peter
• Schwartz
• capitalism
• altruism
• self-interest
• individual
• rights
• socialism
• freedom
• Adam
• Smith
• selfish
• The
• Wealth
• of
• Nations
• service
• sacrifice
• state
• laissez
• faire
• laissez-faire
• free
• trade
• goods
• justification

[MrMustard12345]

This man has not read Adam Smith: no where in Smith's work does he try to "justify capitalism on altruistic grounds." Altruism is defined as a selfless concern for the welfare of others. Smith's belief was that when an individual pursues his self-interest, he indirectly promotes the good of society. Altruism is intentional, clearly.

[theresnofreelunch]

great video

I'm not too familiar with Ayn Rand or Adam Smith so i want to ask this question.

I believe that people should have the right to purse his her own self interest but I also believe that this selfishness can benefit society as a whole since in capitalism its naturally a win win.

start a business for self interest and create jobs.

so what does this make me?

[MrMustard12345]

@ChasingCharles I am not in the business of trying to interpret poorly-worded, vague assertions over YouTube topics. If you wish to challenge me, be coherent.

[ChasingCharles]

@MrMustard12345 what this man is saying is that the individuals existence does not have to be justified because of the positive effect (rational) selfishness can have on society. It is an end in itself, the rest is a bonus. I have to admit that Objectivists over-use the terms Altruism, Looters, Moochers and Sacrificial Animals.

[blspro]

And "clearly" Smith justified a man's pursuit of his self-interest by claiming it "promotes the good of society". IOW, he justified it on collectivist grounds, not the rights of a man to his life, liberty, property, and pursuit of happiness. Smith's premise is that men should permit others the pursuit of their self-interest *because* their pursuit will ultimately benefit the collective.

"Clearly" that is altruism - a morality which holds others, not the self, as the standard of values.

[jconnally0]

@theresnofreelunch  Ayn Rand'

[aznmaplemaster]

@theresnofreelunch you start a business for the sake of survival in today's world. the monetary system is the foundation of modern society, and a business is one of the ways to have access to more 'freedom' but doing this have trade offs as you may have noticed, the employed labor of others. their freedoms are restricted for your own sake. something's wrong here. this dilemma stems from the societal framework... a monetary system. so if you were to reform this system, start with economic theory.

[aznmaplemaster]

@Anteater1234567 the problem is accepting the monetary system as the source of motivation. reject the money system, and you would see that for one to employ another for the sake of monetary gain is morally wrong and unsustainable according to humanistic terms. one should employ another and/or work for another on the motivation that being social creatures, teamwork offers better results, and the chemistry that takes places during teamwork is the source of happiness, which is the ultimate goal.

[NetzKaiser]

@MrMustard12345 Ok, I think I cannot convey irony in English. I should stop trying it.

[MrMustard12345]

@NetzKaiser You're an idiot.

[NetzKaiser]

@MrMustard12345 But Ayn Rand's opinion is that Adam Smith did that and she is the only standard of trueness (for an objectivist). Do you want to preach double standard or even worser multi standard? ;-)