There are those who champion free markets and capitalism because they are practical and because they provide the greatest good for the greatest number. These advocates of capitalism aren’t wrong in their claim, but their advocacy comes from only a pragmatic point of view.
But there is one advocate of capitalism that unabashedly defends the system on moral grounds. I am talking here about the novelist/philosopher Ayn Rand, whose grand-scale novels The Fountainhead and Atlas Shrugged are must reads for anyone who loves great literature, heroic role models and sophisticated ideas.
Check out some of what Rand has to say about capitalism. I think you’ll agree with me that she is perhaps the greatest advocate of capitalism ever.
"The moral justification for capitalism does not lie in the altruist claim that it represents the best way to achieve the common good.’ The moral justification of capitalism lies in the fact that it is the only system consonant with man’s rational nature, that it protects man’s survival qua man, and that its ruling principal is: justice."
"Capitalism demands the best of every man — his rationality — and rewards him accordingly. It leaves every man free to choose the work he likes, to specialize in it, to trade his product for the products of others, and to go as far on the road of achievement as his ability and ambition will carry him."
You’ve got to love Rand’s unapologetic and passionate advocacy of capitalism. We should all be so passionate about our convictions, and the lesson we should all take from her is to appreciate, and take advantage of, living in the freest and most prosperous country ever.
Wisdom about money, investing and life can be found anywhere. If you have a good quote you’d like me to share with your fellow Making Money Alert readers, send it to me, along with any comments, questions and suggestions you have about my radio show, newsletters, seminars, or anything else.