Ayn Rand died a few years ago, but has a fan following till date. She was one of the champions of capitalism – it will not be wrong to call her the Karl Marx of capitalism!

She assumed that industry will behave well (after all it is in the industry’s interest that people live long, healthy, etc) – so companies will behave ethically….etc.

Without disputing that ‘generally’ i really do not know how there is such a huge ‘sin’ industry, arms industry,…….etc.

The sugar industry is FAR, FAR, FAR more dangerous than the tobacco industry……and see what they have done…read on. It is a long story, so please be patient…but it is worth reading

http://www.motherjones.com/environment/2012/10/sugar-industry-lies-campaign

comments welcome ……….

 

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  1. Not a single industry player will think long term. Only regulators can think of long term. Everybody want to make quick gains in short term – from sales team to CEO – everybody. In fact that was the reason of 2008 recession. Goldman Sachs, Lehman Brothers all were and are trying to make quick gains and then exit.
    If people dying of sugar then let them die. Sugar companies are getting money.
    btw, anti-sugar people can always generate public awareness instead of asking for ban or regulation.

  2. Regulators think? that too long term? Sorry Sanjay do you work for one? Just too much evidence against sugar…people are ignoring it at their own peril…one day they will get up…

  3. Dr. Mohammed Ali Khan

    1. Regulators think long term? Regulators are just a bunch of bureaucrats with their own bias and obligations. They are human beings who have to rest, go on weekend holidays, vacations, fall I’ll and so forth. whereas the market(Which is actually the sum total of ALL our brains and decisions) never sleeps.

    For example, in his book “No One Would Listen: A True Financial Thriller” Harry Markopolos, a little-known number cruncher from a Boston equity derivatives firm, and his investigative team uncovered Bernie Madoff’s scam years before it made headlines. Throughout the book, Markopolos and his colleagues tell their first-hand story of investigating Madoff-with the help of bestselling author David Fisher. They explain how they discovered the fraud, and then how they provided credible and detailed evidence to major newspapers and the Securities and Exchange Commission (SEC) many times between 2000 and 2008, only to have his warnings ignored repeatedly by the SEC.
    There is a similar story of a guy who detected Enron scam long before the regulators knew about it.

    I don’t deny the importance of a regulator. But I deny the left-wing canard that ANY government body is superior to the market forces.

    2. Subra, there is already lot of advice from the fitness and medical professions to avoid or reduce the three whites – Sugar, Salt and Starch. Any person with a slight interest in fitness knows this fact. It’s just that we humans have evolved to like sugar. Moreover, the sugar industry does not hold a gun to your head to eat sugar. We all have a choice to avoid sugar. I personally know some people who do so.

    3. Ayn Rand was not perfect. Some of her ideas are bull shit. The way she tewatedher froends and followers is deplorable. Even her ideas about capitalism, she borrowed from the Austrian school of economics. But, most of her ideas on Capitalism are true and make sense. It’s mostly common sense.

  4. Really, Dr. Mohammed Ali Khan? The market never sleeps? Then what happened in financial crisis in 2008? How come toxic assets land in pension funds?
    The way I see financial transaction is there are two parties which are trying to loot each other. It is not to felicitate but to fool gullible people.
    To stop gullible people from falling prey to Goldman Sachs, people developed credit rating agencies. But unfortunately Goldman Sachs game that system as well.

  5. Dr. Mohammed Ali Khan

    The root of the financial crisis was caused by the US government strong-arming the banks and financial institutions to lend money to people, who, in a free market would not qualify for a loan, because of their poor repayment capability. And then assuring the banks that their bad loans would be backed by Fannie may & Freddie Mac(Quasi government bodies).
    They literally removed the “risk” from the risk-reward equation of the banks. No wonder the banks went overboard in sanctioning loans- Any risk was borne by the taxpayer.

    Markets do not sleep. Because the market is nothing but crowd intelligence. It’s you and me and everybody making decisions, not every 5 years, but every minute. It’s the most democratic force in human interactions. Everytime you buy or not buy something, you are in effect voting. But markets can be fooled and led astray, because people can be lead astray, but not for long.

    The very fact that there was a crash in 2008, because the entire system was fraudulent, the very fraud originated by the US government & Fed, is a testimony to the strength and vigilance of the market. The economy had to crash in 2008, because it HAD to crash. My only grouse is that, it did not crash earlier.

  6. No Dr. Khan, Govt did not, repeat did not strong arm them. The industry was sitting on too much money and did not know to whom and how much they could lend. So they lent.

    Market forces act in such a way that there will be MISTAKES, frauds, etc. Greed and Fear go on leave from time to time. When fear went on LEAVE FROM 2003 to 2007, people THOUGHT that RISK had gone on leave. Sad thinking. When risk came back and could not find its sitting place (the chair was also removed) it decided to sit on all the portfolios. Ouch it hurts….

  7. Just a thought. Is greed called as “Market Forces”? I don’t see any other reason for such irrational things. Nothing but human nature of greed. like it or not Stock Market exploits this. Those who are successful have mastered a technique to dump shares on someone else’s account. This is a art no doubt.

  8. Hi,

    I would not agree that “She(Ayn Rand) assumed that industry will behave well”..

    She was of the opinion that the consumers/markets would determine the result.If government can create the awareness,then people would dump the harmful/poor quality products..But of course,that works in free market.

    One classic example is the auto industry.It does not allow international companies to compete on the level playing field.
    The local manufacturers has the biggest cost advantage over the foreign rivals.End result, people are forced to get a “cheaper” local car or if he looks for safety/quality,had to shell out a larger sum..
    Off late, the situation is changing since people are exposed to international markets,few people at least say with their money that they want quality.

    Generally,Ayn Rand’s philosophy works very well..Nobody is forcing the consumers for anything.If we are having restrictions on competition, then yes, we need regulators and hope that they do their job.

  9. Dr. Mohammed Ali Khan

    Subra
    You clever guy!
    You used the name of Ayn Rand to lure me into the comments section:-)
    ( All this time I was reading Subramoney on my email, without commenting)

    Anyhow, regarding strong arm I was referring to this act
    “The Community Reinvestment Act (CRA, Pub.L. 95-128, title VIII of the Housing and Community Development Act of 1977, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.” – Wikipedia

    This was one of the several series of laws passed by the US Governmnent to lower lending standards. It was the express wish of several American presidents to encourage home ownership among Americans. And Government created a moral hazard by bailing out the banks with taxpayers money, the banks which should have been allowed to deal with the fallout on their own.

  10. Just by chance I was watching a lecture by Dr. Robert Lustig called “Sugar – The bitter truth” and he clearly says that it is a poison and gives a detailed biochemical explanation for making his case.

    http://www.youtube.com/watch?v=dBnniua6-oM

    It’s an hour and a half long. But you can watch a shorter version by Dr. Sanjay Gupta called “Is sugar toxic”, which is just 14 minutes.

    http://www.youtube.com/watch?v=sXhKQEdIDa0

    Was surprised to read about the exact same issue in the link posted by you. And I don’t think the sugar industry will go down without fighting this so easily. Firstly by not letting this information be out and popular in the public domain.

  11. why is anyn rand the flag bearer of capitalism? that is like saying chetan bhagat is the middle class intellectual of india.

    capitalism has better proponents from hayek to hazzlit or rothbard to mises.not to forget milton friedman’s ‘free to choose’.
    ayn rand is higly flawed

  12. “No Dr. Khan, Govt did not, repeat did not strong arm them. The industry was sitting on too much money and did not know to whom and how much they could lend. So they lent.”

    come on subra.you can do better than that.when someone gives you free money and promises to bail you out, living recklessly is the expected outcome.what else would you expect?
    greenspan (THE ESTEEMED LONG TERM THINKING REGULATOR!!) estblished during the mexican crisis and during LTCM meltdown that they would always bailout wall st.

    The meaning of a market is ‘voluntary interaction of human beings’.with the govt controlling the basic commodity of financial transactions ie MONEY -there can be no doubt that there will be booms and bust.it is as predictable as any other centrally planned item

    you really dont want to equate capitalism with wall st.
    wall st and govt are in bed together beacuse the State needs these fellows to increase its reach.it is good for both of them
    it is hardly free markets.it is the definition of cronyism

  13. if anyone understood capitalism ,they would not be agruing for ‘industry’. they would be making all arguments based on ‘is this the outcome of voluntary behaviour?’.that is all.

    all free market websites i visit.lewrockwell.com is the best of them are all against sugar lobbies and the High fructose corn syrup.they are also against the high carb recommended diet which seems to the current rage in the establishment.you can be sure that the healthcare companies in the USA are HAPPY with obamacare .guess who are on the panel of people writing the obamacare laws?
    the only ones who dont have a voice with these govt-industry nexus is the free choosing individual consumer.

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