Ayn Rand Exposed as a Dangerous Fool in 1959 Interview with Mike Wallace.

Posted on Monday, 13th August 2012 @ 02:01 PM by Text Size A | A | A

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No need to spend hours reading the 1,268 page pulp-fiction tome Atlas Shrugged to get to the bottom of this ideological goddess of the Republican Party in 2012.  Mike Wallace does the heavy lifting for us in a 1959, thirty minute interview.  Rand is exposed by her idiotic statements like “a free economy will not break down…all economic depressions are caused by government interference….in free competition, no one could corner the market on a needed product…”

  Any economist of the left or right knows that market economy depressions result from business cycles and business cycles are not spawned by or even contained by government policies, although they are influenced by them, e.g. monetary and fiscal policy.

Ayn Rand was a pseudo-intellectual and even Alan Greenspan said her ideas are contradictory.

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