Benevolent Capitalism

All too often one hears of the, in Ayn Rand's words, the "brute" who tramples over dead corpses to make a profit, while meaning his fellow man ill. To some, this is the mental construct a "capitalist" has come to represent. However, a true capitalist is in fact benevolent. Indeed, a real businessperson means nothing but the best for others and wishes them well, neither violating their individual rights nor letting others violate theirs. Often times, one commonly hears the profit motive is inherently bad and that "more regulations" must be put in place to "even the playing field." But, to whom does economic regulation really benefit? Who stands to gain the most from such regulation? Primarily those advocating for it! Namely, statists who had rather have the "selfish" proletariat under their thumb than on his or her own two feet.

Indeed, this thesis should give us cause to pause. To whom does my life belong if not my own? To the government? To my creditors? Do I "belong" to my partner? All such relationships must be evaluated in a rational, self-interested, benevolent fashion. Remember: neither causing harm to others nor oneself. As Rand explains, one becomes neither a "looter" nor an object of human sacrifice. The rational human being, as epitomized by the businessman--a trader.

Now, you may say what of Madoff, the infamous "rogue trader", or Ken Lay who were allegedly "producers" of good and/or services? Again, they did not practice benevolent capitalism (many were hurt as a result of their crimes). And please let us not confuse this with the selfless sacrifices of countless others to throw themselves on the proverbial "funeral pyre." Again, no harm--no sacrifice of self or others to self. However, to conclude, Rand was not completely on the money, there were indeed points in which we disagree, but her main thesis remains fundamentally sound. The rest, we will leave our readers to discern for themselves. If you take away anything from this post, remember profit in itself is not bad, human behavior can be, but the willingness and ability to practice "benevolent capitalism," is indeed a virtue and not a vice. As such, the Money Minute Weekly, would like to see further work apply Rand's theoretical framework to real life in the business world. That being said, some of her views, if not moderated, can indeed become extreme--the key is moderation and temperance in all ones actions "or senses" as many associations like to say.

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