Yaron Brook of the Ayn Rand Institute has written another outstanding article for Forbes outlining the retreats from capitalism in South America, Europe, and the United States — and explaining the causes of them.
It feels like the early stages of Atlas Shrugged. But we can turn the tide for the same reason that liberty has been slipping; as Brook writes: “There’s no preordained direction for the world economy — only an undetermined future that will take the shape of whatever ideas and policies we choose to uphold.”
Brook points out, “Capitalism and the profit motive continue to be viewed with suspicion. … This is why Barack Obama can get away with belittling the ‘money culture,’ his wife can smugly counsel youth to shun ‘corporate America’ and John McCain can brag about working ‘out of patriotism, not for profit’.”
Read the entire article.