Thursday, May 26, 2016

Ayn Rand on Milton Friedman

“He is not for capitalism; he’s a miserable eclectic. He’s an enemy of Objectivism, and his objection is that I bring morality into economics, which he thinks should be amoral.” ~ Ayn Rand speaking on the TV show "Free to Choose" in 1980

(Source: A Companion to Ayn Rand; Chapter: 'A Free Mind and a Free Market are Corollaries' by Onkar Ghate)

1 comment:

Sanjeev Sabhlok said...

Yes, Ayn Rand did go to some extremes, on occasion. She is very good at an intuitive level but remains only tangentially relevant to the actual governance of any society because she has very poor foundations in the theories of economics, nor a sense of economic history or political history.

She thought she had invented something new. Actually not. There were many precedents to her way of thinking, and many people had gone into much greater depth on a number of issues. She - being ignorant and arrogant in many ways - couldn't understand them and simply trashed their views.

Ayn Rand was a promoter of pop capitalism; and a very good one at that. But no, no one should base their ideas on serious and complicated issues based on her views.

Friedman, Mises, Hayek, Buchanan, etc. operated on an entirely different plane which she could not even begin to grasp.