Government And Business

Insider Trading: The Rule of Unreason

Yesterday, the Supreme Court heard arguments in Salman v. United States, a case that illustrates the vague, arbitrary, and capricious nature of insider trading “laws.” Insider trading laws restrict people’s ability to buy and sell securities based on “material nonpublic information.” But what the government considers insider trading is often so nebulous that it amounts to ex post facto law: in many cases, it is impossible to know whether you’ve committed a crime until the government says you committed one.
Government And Business

The Trouble With “Rent Seeking”

In Equal Is Unfair, Yaron Brook and I argue that one of the problems with the concept of “economic inequality” is that it lumps together two fundamentally different things: inequality that reflects differences in productive achievement and inequality that reflects some people’s ability to gain unearned wealth. Package-deals like this lay the groundwork for injustice.
Government And Business

We the Living: Ayn Rand’s Anti-Egalitarian Novel

This year marks the 80th anniversary of the publication of Ayn Rand’s first novel, We the Living. In her foreword to the novel, Rand explains that although the book is set in 1920s Soviet Russia, We the Living is not a historical novel: it “is a story about Dictatorship, any dictatorship, anywhere, at any time” and its goal is to show what “the rule of brute force does to men and how it destroys the best.”
Government And Business

Do the Inequality Alarmists Advocate Full Equality?

In Equal Is Unfair: America’s Misguided Fight Against Income Inequality, Yaron Brook and I argue that the campaign to fight economic inequality is unjust. One response I’ve heard from people who have only seen the title of the book (and one critical reviewer) is that we’re attacking a straw man. No one advocates full economic equality, they say.
Government And Business

The Million Moocher March

Last week saw the so-called Million Student March, where students around the country — probably not a million of them — organized to demand free college, the cancellation of all student debt, and a $15 minimum wage for all campus workers.

Further Reading

Ayn Rand | 1957
For the New Intellectual

The Moral Meaning of Capitalism

An industrialist who works for nothing but his own profit guiltlessly proclaims his refusal to be sacrificed for the “public good.”
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Ayn Rand | 1961
The Virtue of Selfishness

The Objectivist Ethics

What is morality? Why does man need it? — and how the answers to these questions give rise to an ethics of rational self-interest.
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