Rush Limbaugh pays homage to the "brilliant writer and novelist" Ayn Rand

Conservative talk-show host Rush Limbaugh gave a lengthy monologue today titled “The Smallest Minority on Earth,” in which he talked about the importance of individual rights.
Along the way, he paid due homage to the “brilliant writer and novelist, Ayn Rand.” Here is a key excerpt:

As I said, we have a gigantic new audience to this program, the tune-in factor is just through the roof. For those of you who are new to the program, I want you to please understand that the criticism of the Obama administration here and the disagreement with practically every element of his agenda is based on one thing.
We do not want to lose the liberty and freedom that we were born with in this country and that has made this the greatest country on earth, that has given us the greatest, most prosperous lifestyle any of population of human beings in the history of the planet. It has been liberty; it’s been freedom; it has been the ambition and desire to use that freedom in the concept of self-interest.
I want to spend more time on this in a future program. But this notion of sacrifice that the president talked about yesterday is just over the top. Liberals always talk about sacrifice, Obama, every time he opens his mouth, mentions the need for people to sacrifice. We all must suffer. We all have to jointly suffer in order for all of us to somehow be the same, and self-interest, selfishness is condemned. And self-interest not selfishness. Self-interest is what built this country.
Somebody starting a business did it in his self-interest. He didn’t start a business so that there would be jobs and health care in the community. He started a business because he loved the business that he was in. He loved the business that he wanted to build. He had a product or a service that he thought would improve the lives of people. He wanted to sell it to them; he wanted to make it available to them. Everybody wins when everybody’s acting in self-interest. Selfishness is a different thing.
Self-interest is excellence; self-interest is what’s desired; self-interest is what makes people want raises; self-interest is what makes people want their families to be secure; self-interest is what makes parents want their kids to be properly educated; self-interest is what propels the United States military to victory. Not sacrifice. Not the concept of sacrifice.
Sacrifice is giving something to somebody you don’t know to make yourself feel altruistic. You’re not sacrificing. It doesn’t make you great. But giving something to your family because you provided it for them, that is good. But if you run around just giving people who do nothing for you, who are just worthless, don’t have anything to do with you, you’re cheating them out of their own self-interest.
When you vote for politicians who take from your back pocket to give to others, you think it’s compassionate, you think it’s caring? It’s not. It’s depriving the recipient of his own quest for self-interest.
The brilliant writer and novelist, Ayn Rand, has written about this. Let me give you a couple quotes from Ayn Rand on this. “It only stands to reason that where there’s sacrifice, there’s someone collecting the sacrificial offerings. Where there’s service, there is someone being served. The man who speaks to you of sacrifice is speaking of slaves and masters, and intends to be the master.” That is President Obama.
“Where there is sacrifice, there’s somebody collecting the sacrificial offerings.” What does it mean? President Obama says, “We all need to sacrifice,” for this reason or that reason. What it means is we all need to pay more; we need to have less affluent lives; we need to dial down our prosperity, and we need to give the money to him, not a charity. He’s going to eliminate, for all intents and purposes, the tax deductibility, it’s going to be 28 cents for every dollar, charitable donations. He wants to be the distributor of the charitable donations. He wants to be the distributor of the goods because he wants the glory.
“So it only stands to reason that where there’s sacrifice, there’s somebody collecting the sacrificial offerings.” Who is it that’s talking about sacrifice? President Obama. Who’s going to collect your sacrificial offerings? President Obama and his government. And “where there’s service, there’s somebody being served.” There’s no sacrifice in service. The president who speaks to you of sacrifice is speaking of slaves and masters. He intends to be the master. You’re the slave. You must sacrifice.

See the full transcript for much more. You can also listen to the audio clip in Windows Media Player or RealPlayer.
(Thanks to Robert Bidinotto for the heads-up about this.)

The hero of Ayn Rand's Atlas Shrugged is smiling

The allusions to Atlas Shrugged in the mainstream media are just getting better and better. From the new Bloomberg article “Obama Needs AIGâ??s Liddy, Not Other Way Around,” by Caroline Baum:

The hero of Ayn Randâ??s Atlas Shrugged is smiling because heâ??s seen it all before: the governmentâ??s intervention in the private sector; the constraints placed on business in the name of the people; the desperation on the part of government bureaucrats when they realize their leverage is limited; and — this part is still fiction — the decision on the part of business leaders to walk away from the enterprises they built.
Thatâ??s all I could think about when I read that American International Group Inc., recipient of $173 billion in taxpayer funds, was paying out $165 million in bonuses to employees of its financial-products group, the poster boy for risk and greed.
The Obama administration, Congress and the public are outraged taxpayer dollars are going to enrich the folks who got us into this mess. So am I.
Members of Congress want to blame Edward Liddy, the former chief executive officer of Allstate Corp., who was recruited by former Treasury Secretary Hank Paulson in September to steer AIG away from the shoals.
Liddy is paid $1 a year for his efforts. â??My only stake is my reputation,â? Liddy said in a March 16 open letter to Treasury Secretary Timothy Geithner.
His only crime, as far as I can tell, is inheriting compensation contracts providing for retention bonuses for certain AIG derivative traders, some of whom have left the company, and listening to lawyers on his options.

See the full article for much more on the parallels between Atlas Shrugged and the current crisis.
(Thanks to Greg Feirman of Top Gun Financial Planning, author of the Atlasphere article “The Odyssey of Star Stock Trader Tim Sykes,” for the heads-up.)

'Is Ayn Rand Relevant?' in the Wall Street Journal

Yaron Brook had an excellent article in Saturday’s Wall Street Journal. It begins:

Ayn Rand died more than a quarter of a century ago, yet her name appears regularly in discussions of our current economic turmoil. Pundits including Rush Limbaugh and Rick Santelli urge listeners to read her books, and her magnum opus, “Atlas Shrugged,” is selling at a faster rate today than at any time during its 51-year history.
There’s a reason. In “Atlas,” Rand tells the story of the U.S. economy crumbling under the weight of crushing government interventions and regulations. Meanwhile, blaming greed and the free market, Washington responds with more controls that only deepen the crisis. Sound familiar?

See the full article for more.

WSJ: Atlas Shrugged – from Fiction to Fact in 52 years

Stephen Moore, senior economics writer for the Wall Street Journal, compares today’s bailout orgy and economic stimulus plans to the “economic lunacy that Atlas Shrugged parodied in 1957.”

The current economic strategy is right out of “Atlas Shrugged”: The more incompetent you are in business, the more handouts the politicians will bestow on you. That’s the justification for the $2 trillion of subsidies doled out already to keep afloat distressed insurance companies, banks, Wall Street investment houses, and auto companies — while standing next in line for their share of the booty are real-estate developers, the steel industry, chemical companies, airlines, ethanol producers, construction firms and even catfish farmers. With each successive bailout to “calm the markets,” another trillion of national wealth is subsequently lost. Yet, as “Atlas” grimly foretold, we now treat the incompetent who wreck their companies as victims, while those resourceful business owners who manage to make a profit are portrayed as recipients of illegitimate “windfalls.”

Read the full article.

Presidential Candidate Barr Speaks at The Atlas Society

Libertarian presidential candidate and former Republican U.S. Representative, Bob Barr, spoke on Sunday at The Atlas Society’s Summer Seminar 2008 in Portland, Oregon. The Oregonian reported on Barr’s talk:

Former U.S. Rep. Bob Barr of Georgia, now running for president on the Libertarian ticket, told a Portland crowd today he got into the race to offer an option for those who want less government intrusion in their lives.
“There is absolutely no reason for them to feel bound to the artificial constraints of the two-party system,” Barr said. “Those are their only two choices: big government and really big government.”
Barr, who served four terms in Congress as a Republican, switched parties after becoming disenchanted with what he called the high-spending ways and increasingly Big Brother policies of the Bush administration.
He spoke to about 150 at an annual conference of The Atlas Society, a Washington, D.C.-based group that promotes Ayn Rand’s libertarian principles.
Rand, the author of “The Fountainhead” and “Atlas Shrugged,” founded a philosophical movement called objectivism, which focuses on individual rights and achievements as the cornerstone of a great society. Barr said he agrees entirely with that outlook.

Read the rest of the article.

Nick Gillespie on Ayn Rand's influence

Some choice quotes from Reason editor Nick Gillespie’s interview with NPR:

Let’s put it this way: Ayn Rand’s work, I think, is popular for the same reason Prometheus has always been popular with humans. It’s about somebody who dares to struggle against great odds and, you know, steals fire. …
Virtually every CEO of every major company will list Ayn Rand as a major influence. A bevy of Hollywood stars, ranging from Brad Pitt to Angelina Jolie to Vince Vaughn – a director like Oliver Stone, who is fond of Castro, says that Ayn Rand is one of the most important figures in his intellectual life. Martina Navratilova, Billie Jean King, Hugh Hefner – I mean, the reach of this author is pretty astonishing….
She gives egoists a positive case for why the world should revolve around them and around their efforts. If you are the person who is creating value, if you are the star, the sun really does revolve around you. And not only should it be that way, but that’s the moral order of the universe….
How many characters from Saul Bellow novels, how many characters from Don DeLillo novels, inarguably great writers, how many of them have penetrated the American cultural consciousness in the way that a Howard Roark or a John Gault [sic] has, to a degree where these are shorthands for an entire system of ideas?
I think that that speaks pretty highly of her power as a writer. She is a great author because she has a phenomenal audience, including a lot of people who go through a worshipful phase with her. And, you know, here we could be talking about Alan Greenspan, the former head of the Federal Reserve, as well as any number of pimply-faced adolescents who decide to grow beyond her.

Listen to the full interview (15 min) for much more.

Ayn Rand on WNYC in New York City

From Atlasphere member Don Hauptman:

The local NPR affiliate WNYC just ran a lengthy segment on Rand, Objectivism, the forthcoming Atlas film, and more … with commentary by admirers and detractors, excerpts from the novels, dialogue from the film of The Fountainhead, and Randâ??s words in her own voice.
Notwithstanding the usual attempts at â??balance,â? this segment struck me as a generally fair presentation of Randâ??s achievement and importance.
Complete audio is here.