Wednesday, October 01, 2008

Objectivist Round Up - Financial Crisis Edition

Welcome to the October 2, 2008 edition of Objectivist round up. This week we're focusing specifically on the Financial Crisis from an Objectivist perspective. This is a crucial point in our nation's history, and one which illustrates the value of good ideas, and the failure of bad ones. Your voice is necessary in this time of high anxiety. Hopefully, the Objectivists here help make things a little bit clearer. This issue is quite full so let's get right to the substance.

Also, the Ayn Rand Center for Individual Rights has set up a web site dealing specifically with the Financial Crisis and offering insight and analysis on this crisis and capitalism in general. That site is located here.


Financial Crisis - Principles & Analysis

Rational Jenn presents Nine Years Ago posted at Rational Jenn, saying, "Even The New York Times saw this coming! Plus, bonus advice on making Government Interference work for you!"

PC presents Borrowed time - the anatomy of recession posted at ... not PC, saying, "Somebody has blundered, and we'll all be paying for it again, but who and how and why?"

Ari Armstrong presents Capitalism In Two Minutes posted at, saying, "While I've posted several other links to good articles against the bailout, I thought this short, pithy piece served as a decent summary of the virtues of capitalism -- and the evils of economic controls."

Edward Cline presents America vs. Congress et al. posted at The Rule of Reason, saying, "There was nothing in the original Constitution that gave the government the power to "improve" the economy, except, implicitly, to let it alone."

Sascha Settegast presents "Market Failure" vs. Individualism posted at Heroic Dreams.

K. M. presents The financial crisis and pragmatism posted at Applying philosophy to life, saying, "A brief post about the role of pragmatism in the financial crisis"

Noah Stahl presents Blank-and-effect – The economics of pragmatism posted at The Undercurrent, saying, "Stahl examines the current administration's "flexible” approach to the financial crisis, about which President Bush said, “There will be ample opportunity to discuss the origins of this problems[sic]. Now is the time to solve it.” Why do Bush and Paulson think they can solve the problem with no understanding of how it came about?"

Gus Van Horn presents Calhoun on the Bubble posted at Gus Van Horn, saying, "As the man says, "That is how capitalism works in case everyone has forgotten.""

Paul Hsieh presents Bush Vs. Ott On The Bailout posted at NoodleFood, saying, "It's too bad Bush didn't make this speech."

Financial Crisis - What's Next?

The Aesthetic Capitalist presents Proper Response to The Bailout posted at The Aesthetic Capitalist.

Diana Hsieh presents Correspondence on the Bailout posted at NoodleFood, saying, "Historian John Lewis eviscerates the typical arguments in favor of the bailout offered by his representative."

C. August presents RIP Bailout... Now What? posted at Titanic Deck Chairs, saying, "The House voted down the bailout. A sigh of relief was followed by dire predictions for what it would do next week. Now it seems that the Senate may beat them to it."

Nicholas Provenzo presents The Financial Panic and the Only Proper Answer to It posted at The Rule of Reason, saying, "We are told that the ruthless self-interest of Wall Street (rather than the "compassionate" gift-giving of the Congress) is the cause of the current financial crisis. Unfortunately, the truth is a little more complex. Perhaps we should examine this truth, that is, before we blithely allow our political leaders to add nearly a trillion dollars to the public debt and give new powers to those who helped bring the disaster along in the first place."

Eric Clayton presents To Defeat the Growth of Government it's Time to Win the War of Ideas posted at Atlantis.

Kendall Justiniano presents Why Paulson's Money is No Good posted here at The Crucible and Column, saying, "Why government can't do what the private economy should be allowed to."


More Objectivist Commentary

Burgess Laughlin presents What can historians study? posted at Making Progress, saying, "This is an ode to the enormous variety of objects--wide and narrow, great and small, abstract and concrete, exalted and mundane--that historians (and their readers) can study."

Kevin Morrill presents Steve Ballmer and the meaning of money posted at Net Profit Motive.

Paul McKeever presents Freedom and the Proper Regulation of Speech posted at Paul McKeever, saying, "did the title get your attention?"

Peter Cresswell presents Is the phenomenenal disconnected from the noumenal ... ?posted at Not PC, saying, "A little humour for Objectivists this week ... by all appearance the world's most destructive philosopher is alive and well and in business down in Fiji!"

John Drake presents China for a day posted at Try Reason!, saying, "Thomas Friedman, famed author of the book "The World is Flat", is out peddling his latest book "Hot, Flat, and Crowded". In it, he reveals to the world his disdain for individual rights. In my post, I discuss his speech for the Washtenaw Economic Club, delivered at Eastern Michigan University, and how his vision for tomorrow is fundamental wrong."

Ryan Puzycki presents A Stroke of Good Luck posted at The Undercurrent, saying, "Instead of nervously worrying about the declining health of North Korean leader Kim Jong-Il, the U.S. should view it as an opportunity to reevaluate our appeasement of his despotic regime."

The Editors at The Undercurrent presents The Environmentalist Attack on Outdoorsmanship posted at The Undercurrent, saying, "This essay examines the corruption of the conservationist movement, which once sought to conserve nature for human pleasure - not from human beings, as current environmentalists do."

Kristina Saraka presents Protesting Prices posted at The Undercurrent, saying, "Kristina looks at the phenomena of protesting in order to bring about lower or higher prices, and examines what bad premises such protests are based on."

Eric Peltier presents Evaluating the War Effort posted at The Undercurrent, saying, "Who are we really fighting, and what is our goal in the "War on Terror"?"

Noah Stahl presents The Bankruptcy of the Mixed Economy posted at The Undercurrent, saying, "Noah examines how the mixed economy became so uncontroversial."

Adam Reed presents Religion is the Marxism of the 21st Century posted at Born to Identify, saying, "The last economic crisis of comparable magnitude led to the Great Depression and the Age of Dictators. What can we learn from the history of ideas about the corresponding risks and threat levels from this one?"

That concludes this edition. Submit your blog article to the next edition of objectivist round up using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

Technorati tags: objectivist round up, blog carnival.


fortruth said...

I have a post on Freedom of Speech here that is a rebuttal of Paul McKeever's post and argues that the right to freedom of speech is indeed an absolute right.

PC said...

Hi Kendall J,
Sorry I was too late in posting my link for this week's Objectivist Roundup on the Financial crisis, and you've got a cornucopia of brilliance here, but here is the post I intended to submit:

Borrowed time - the anatomy of recession

Somebody has blundered, and we'll all be paying for it again, but who and how and why?

Rational Jenn said...

By the way, excellent carnival! Thanks for hosting!