TOS Blog: Daily Commentary from an Objectivist Perspective

Thursday, March 26, 2009

The Financial Crisis: Free Markets as the Only Moral and Practical Solution

Posted by ARC Media at 4:27 am

Who: Yaron Brook, executive director of the Ayn Rand Center

What: A talk followed by a Q&A

Where & When:

These events are open to the public. Admission is FREE.

Description: Virtually everyone today regards the financial crisis as a failure of the free market. In this talk, Yaron Brook, executive director of the Ayn Rand Center for Individual Rights, will argue that in fact it is the un-free market that has failed. It was not capitalism that held interest rates below the rate of inflation, spurring massive amounts of borrowing and a housing boom. It was not capitalism that gave us Fannie Mae and Freddie Mac, which promoted subprime lending and helped fuel the boom. It was not capitalism that gave us deposit insurance and the "too big to fail" doctrine, which encouraged risky financial practices.

These, and many anti-capitalist measures like them, Dr. Brook will argue, laid the groundwork for the financial crisis. The only cure, according to Dr. Brook, is to set the market free. But to do that, Americans must embrace capitalism as a moral system—one that should be defended without guilt.

For more information surrounding all ARI campus club talks, including detailed campus maps and campus club contact information, please visit www.aynrand.org/education_campus_calendar.

Please note: The above events is organized, hosted and sponsored by individual campus clubs. Although ARI provides financial support, educational materials and speakers for eligible student clubs, campus clubs are organizations independent of ARI.

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Posted in: Announcements, Business and Economics, Events, Individual Rights and Law

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