Criticism Domestic issues Economics Law Libertarianism Political Philosophy Politics The Web and Technology

Capitalism in Practice

[reddit-me]I’ve started Tim Wu’s The Master Switch, a history of information industries in America; and having read Ayn Rand’s fictional Atlas Shrugged earlier this year — I wonder what Rand would make of this history of industrial warfare.

One of the motifs of Wu’s history is a theme of Rand’s novel — the extreme lengths the rich and powerful will go to in order to quash a disruptive technology. In the novel, it was Rearden steel — a metal stronger, cheaper, and better in every way than ordinary steel; in Wu’s history, it is every technological innovation from the phone to FM radio to television to the internet. In both history and the novel, the established industry used corrupt scientific experts, intimidation of suppliers, government regulation, and the blocking of financing to prevent the disruptive technology from taking off.

Rand’s novel though divides the everyone into two categories: the productive who are proud, competitive, inventive individuals who make everything of worth; and the looters who are unproductive and seek to leach off of the productive using the government, religion, and pity.

Wu’s history reveals a rather different story. There is no figure in history to match the strong, creative, independent, self-made industrial magnate Dagny Taggart. There are few who resemble her brother, the weak, dependent, self-loathing James Taggart who adds nothing of worth to the business except to plead with the government to stop his competitors because their superiority is unfair,

Only rarely do the inventors become rich. More often, they are outmaneuvered by corporate titans who use every means at their disposal to win. When Edwin Armstrong invented FM radio in 1934, he had pioneered a technology that allowed for better sound quality and that could fit more stations in the same radio spectrum with less interference. David Sarnoff, a major figure in the AM radio industry, was able to prevent FM radio from gaining wide acceptance until the 1970s through a combination of public propaganda, lobbying to change obscure rules relating to radio spectrum usage, and control over the manufacturing of radio players. David Sarnoff managed a vast business empire; he was at the cutting edge of innovations in radio and television. He won not because he was weak and unproductive (as Rand’s villains are) — but because he was ruthless.

Rand’s many fans aren’t typically the creative inventors. They are the very businessmen who see moral justification for their wealth in her philosophy. But they, like the businessmen in Wu’s history, are distinguished not for their purity of motive or love of competition, but their willingness to use any means at their disposal to achieve the corporate empire they seek. Unlike the fictional heroes of Rand’s novel, they do not seek competition. They seek a final victory and end to the competition.

In the theories of Rand and many of her acolytes, capitalism is about competition. In practice, capitalism has about brute strength and force used in restraint of competition.

[Image by Ron Schott licensed under Creative Commons.]

17 replies on “Capitalism in Practice”

your google pagerank?. By the way, will be this microsoft website engine that u use? We think its greater then wordpress, it loads properly atleast. Preserve up your very good operate!

Most liberals and conservatives generally support some form of democratic capitalism in their economic practices . The ideology of “democratic capitalism ” has been in existence since medieval times.

An attention-grabbing dialogue is worth comment. I feel that you should write more on this matter, it won’t be a taboo topic but usually persons are not enough to speak on such topics. To the next. Cheers

Aw, this was a really nice post. In idea I wish to put in writing like this moreover ?taking time and precise effort to make a very good article?however what can I say?I procrastinate alot and not at all seem to get one thing done.

I抦 impressed, I have to say. Actually hardly ever do I encounter a weblog that抯 each educative and entertaining, and let me let you know, you might have hit the nail on the head. Your idea is outstanding; the difficulty is something that not enough individuals are talking intelligently about. I am very blissful that I stumbled across this in my seek for one thing relating to this.

Thanks for all of the work on this blog. My mother take interest in going through investigations and it’s easy to see why. We notice all relating to the compelling medium you provide very helpful guidance by means of this blog and even increase contribution from other individuals on the idea then our own simple princess is truly understanding a lot of things. Enjoy the remaining portion of the year. You are always doing a superb job.


激安全国送料無料!100%正規品! 【新商品!】☆安心の全品国内発送! 【超人気新品】即日発送,品質100%保証! 激安販売中! 激安通販!☆安心の全品国内発送! 愛する品を選択する高級アイテムコンセント 『激安人気』送料無料. 『最速最新2018年人気新作!!』 2年保証、返品可能、全国送料無料! 顧客サービスと速い配送でお客様に手入れ。 高品質とリーズナブルで販売 オンラインストアオファー激安輸出 超安値登場!品質保証、最安値に挑戦! オンラインストアは、ご来店ありがとうございます. 超人気【楽…


最安値! ★超人気新品★激安通販! 新品入荷! 新品イタリア製! 【2018最新入荷】低価格! 【全品送料無料】100%の品質保証! SALE定番! HOT本物保証! 最新アイテムを海外通販!全国送料無料! 好評セールス中! 信用第一、良い品質、低価格! 内の卸売デザイナーのラグジュアリーアイテムアイテム 豪華アイテムアウトレットセール 激安大特価,送料無料! これらの製品は低価格なのである

バーキン スーパーコピー 国内発送

激安市場激安屋】2019新品は発売します ! サイトは世界一流ブランド コピー 専門店です。 ぜひ一度当店の商品をお試しください。 驚きと満足を保証致します。 ご利用をお待ちしております。 ブランドコピーブランド専門店 ブランドコピーブランド 代引き/スーパ コピーブランド専門店 口コミブランドコピーブランド 時計ブランドコピーブランド 国内発送n級品 ブランドコピーブランド ブランドコピーブランド ブランドコピーブランドn品 ブランドコピーブランドバッグ ブランドコピーブランド 口コミ ブランドコ…


東京第七家信用スーパーコピー時計の実体の店 ブランドコピーバッグの誠実と信用の店、 24時間以内に出荷し、3~4日に到着して、 当社の販売のさまざまな国際ブランド、 ルイヴィトンバッグ、エルメスコピー、 ロレックスコピー、オメガ コピー、 シャネル時計コピー、スーパーコピーバッグ、 当社は誠心誠意あなたのためにサービス、

Comments are closed.

%d bloggers like this: