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Government And Business

John Allison on how Dodd-Frank is smothering small business lending

We have heard several prominent business leaders — such as Home Depot co-founder Bernie Marcus and Subway founder Fred Deluca — state that they could not have started their amazingly successful businesses if they had to do it in today’s regulatory environment. This is alarming, and it is important to get a concrete sense of how regulations are killing the potential Home Depots and Subways of tomorrow.
Government And Business

Forcing refiners to harm consumers

By forcing refiners to use more ethanol than they think is safe for the majority of intended uses, the government is forcing refiners to choose between creating a product that they fear will harm consumers and facing the legal consequences of not following the mandate.
Government And Business

Throwing your fellow businessmen under the minimum wage bus

I do not think a business leader should ever ask the federal government to raise the minimum wage. An executive like Jelinek is completely free to pay all of his employees above the current minimum wage — and he does. Jelinek argues that this is good for his business. It might be. Regardless, shouldn’t this be something that every business leader is free to decide for himself?
Government And Business

Labor laws give the unreasonable a seat at the table

One of the great things about living in a free country is that you have the freedom of association—meaning the freedom to choose who to do business with. For example, if your business is using a contractor who is rude and unreliable, you are free to end your relationship with him and to instead pursue business with someone else. But this freedom is restricted by the Wagner Act.
Government And Business

Google is not a public utility

Who gets access to Google’s advertising space should be entirely up to Google. The fact that Google has created such prime advertising real estate by offering a peerless search engine does not mean that competitors are entitled to advertise on it.

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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