It is the world of capitalism (Socialism has failed they say). So Ayn Rand is here to stay. RIP Ayn Rand, please stop shrugging like Atlas!

If we were to believe that capitalism works, we have to assume that all the people connected with one company should have the company’s good at heart, correct?

Well they do have the company’s good at heart, but sometimes it is a problem.

All capitalists think they should make profits, clients should be treated like unbranded cattle, the regulator normally speaks the language of the strongest player…there is a whole mafia out there.

The food industry, oil, pharma, finance, auto – all of them know hard it is to handle the politician, and the tricks of the trade. So the food industry will feed you junk, then send u to the pharmacist, ….OMG  read on..

http://www.cracked.com/article_19433_the-6-most-horrifying-lies-food-industry-feeding-you.html

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  1. you keep mischaracterizing ayn rand for some reason.capitalism doesnt mean people become ‘good’ if they arent normally so.
    but it remains the only system where strangers can co-operate peacefully without the use of force.
    just because the law and order system(govt) is broken and is not allowed to come up with private courts and systems to remedy breach of trust,why should freedom get a bad rap?
    this is the age of capitalism? i dont know what you are talking about.profits are still a dirty word in most of the world.socialism lite is what everyone seems to want.please point to me ONE politician who is for free markets(except ron paul of america)

  2. america in the 1870-1913 ,hongkong 1960s to pretty much in 2000s.

    -2 periods where govt shrunk drastically and inspite of ‘bad’ people running ‘horrible companies out to gouge profits’ -a huge chunk of these nations lifted themselves out of poverty.

    none of these countries tried anarcho capitalism: but they still had practically zero regulations and yet,inspite of the accusations of robber barons(levelled at rockefeller )-which is weird considering that under his ‘monopoly’ kerosene prices dropped 90%.
    many countries have tried degrees of economic freedom.
    anywhere freedom has got a break,lots of people have moved out of poverty.
    we have seen the opposite side:wherever people have lost economic freedom,they have continued to lose other freedoms -like in cuba,soviet russia,north korea etc.
    freedom is at the core of free markets.not regulators.not ‘policy making’.not govt ‘allowing’ FDI.

  3. common people may not have the intelligence to offer solutions to problems of the world. they can only search for information about what is best and healthy choice reg food/policy etc and hope many more will do the same. thereby bad choices die natural death.

  4. amazing. The Mind sees what it wants to see. Cuba, Russia, – countries with 100% education, and fantastic medical care. Once this is achieved people want a higher level of satisfaction. So then they start aspiring for democracy and capitalism.

    Capitalism can never work in an unequal society. It is not inequality of capability, it is inequality of education (the kid in the hut gets no input from age 0-5 by which time the brain has developed)..so it starts there itself.

    Socialism is good at the lowest end and at the start – hence our great Nehru wanted a ‘mixed’ economy. Rajagopalachari and Sardar Patel opposed govt in business – but N had his way. Public sector is actually a mixed bag – it has created a fantastic trained talent for the pvt sector. L O L.

  5. It’s capitalism that has allowed creation of means that allow us the capability to voice our views so freely and widely. Capitalism, and in the right quantity, is what the world needs for growth and prosperity. It has been the rise of capitalism that has created modern economies, including India’s.

  6. “. Cuba, Russia, – countries with 100% education, and fantastic medical care. ”
    ouch. you are minsinformed.
    Cuba -removed infant mortality not by improving medical care -but by giving doctors quotas to abort fetuses which had few chances of survival.no birth,no mortalilty.
    soviet russia managed to blame droughts and famines for their horrible economy right into 1980s.(like manmohan singh does in india).
    they had the most atrocious medical care and (destroyed the environment because they eliminated property rights:)unless you were well connected to the party.
    michael moore’ movie ‘sicko’ which praised cuban medicare was banned by the cuban govt .why? so that the people dont get angry on knowing how great a system the cuban elites enjoy.

    socialism is good when you dont need a price system. ie at your home.with your family and dear friends.infact friedrich hayek and other great capitalists clearly advocate it at home. parents dont distinguish between their less skilled child.both get good care.
    but when you interact with strangers,you need a price system to understand the relative valuation of people’s wants.
    inequality exists eveywhere and education means nothing without freedom.the poor of india dont need education-especially for it to be provided by the state -they need freedom and protection of their property rights.90% of govt schools are useless.even govt school teachers send their own children to private schools
    your argument that PSU created a pool for private sector is absurd because it assumes that without these PSUs people would not have obtained skills.you simply trust people with power too much.i am skeptical of power.

    speaking of education:are our govt schools really providing ANY education? it is parents themselves who are providing education to those at 0-5 years.how is a govt servant going to provide any education to your children if you are not bothered about it.

  7. Capitalism and democracy are the greatest to work for. Not because they are good, but because the others are worse. Unfortunately there is no ‘perfect’ capitalism except in A R’s books. You must read what her publisher thought of her writing.

    Democracy and Capitalism with the death of OWNER DRIVEN companies makes no sense. However we will all pretend that democracy works well – we even blame demo in India to say why we are behind China in growth.

    Then our ‘democratic’ government will use all its powers against Kiran Bedi, and other members – all in the name of democracy.

    Long live Capitalism in the minds of AR’s supporters – if you spot it anywhere in real life, pls tweet.

  8. @pravin Capitalism won’t do any good in any country period.
    “it(public sector) has created a fantastic trained talent for the pvt sector” is true. Ask your parents.
    The problem we have is “uncontrolled democracy”. Vote and shut your mouth for another five years. We really don’t have a proper monitoring system. Rich and powerful can do anything. Poor gets poorer.
    @pravin A lot of Govt schools made so many families(mine) to lead a good life.

  9. @sivagnanam

    capitalism wont do any good because?
    because economic freedom is a bad thing? because we need wise overlords in the planning commision and SEBI to take care of us?
    because ordinary citizens cant take care of themselves?because without the mighty state we would all be ignorant illiterates?

    you have probably not spent much time reflecting on what the entity called the govt is.

    i dont deny PSUs trained a lot of engineers -but at what cost?subsidized by tax payers? any economic analysis should be on the basis of opportunity costs and analysing the unseen effects. PSUs and govt schools miserably fail on both accounts.they did benefit a few people but it was the cost of 80% of the country which remained mired in poverty.
    it is difficult for me to understand why people dislike the idea of economic freedom so much -especially given the high place given to political freedom.economic freedom =capitalism.
    the little hawker on the street,selling his cutting chai to his customer is a capitalist.he saves his money and invests in his business so that he can grow prosperous.eucation in govt school has nothing to do with it.but the hafta seeking state policeman keeps looting him.that is what your beloved state provides.violence.against the weakest.

  10. in Rands world of capitalism there is no conflict between what is good for the company /employes/ceo and the clients or the world.once that conflict arises it stopped being rands capitalism. so the book and present organisations cant be compared.

  11. Amazing link, interesting debate! Agree if we could get back to dharmic society it would be best. Democracy is just there to pull wool over people’s eyes.

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