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Ayn Rand - What Is Capitalism? (full course) — Transcript

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0:01ladies and gentlemen is Iron Man
0:04[Applause]
0:16[Music]
0:19ladies and gentlemen to begin at the
0:24beginning in once approach to political
0:27economy and to the evaluation of various
0:30social systems one must begin by
0:34identifying man's nature that is those
0:37essential characteristics which
0:40distinguish him from all other living
0:42species man's essential characteristic
0:46is his rational faculty man's mind is
0:49his basic means of survival his only
0:53means of gaining knowledge
0:55[Music]
1:01men cannot provide for his simplest
1:04physical needs without a process of
1:06thought he needs a process of thought to
1:12discover how to plant and grow his food
1:15or how to make weapons for hunting
1:18he needs a process of thought to
1:20discover how to light a fire how to
1:23weave cloth how to forge tools how to
1:28make a will how to make an airplane how
1:32to perform an appendectomy how to
1:36produce an electric light or an
1:38electronic tube or a cyclotron or a box
1:42of matches yet his life depends on such
1:45knowledge and only evolutional advocates
1:49consciousness a process of thought can
1:52provide
1:53a process of thought is an enormous ly
1:56complex process of identification and
1:59integration which only an individual
2:02mind can perform there is no such thing
2:07as a collective brain men can learn from
2:12one another but learning requires a
2:14process of thought on the part of every
2:17individual student man can cooperate in
2:20the discovery of new knowledge but such
2:23cooperation requires the independent
2:26exercise of his rational faculty by
2:29every individual scientist man is the
2:33only living species that can transmit
2:35and expand his store of knowledge from
2:38generation to generation
2:40but such transmission requires a process
2:44of thought on the part of the individual
2:47recipients as witness the breakdowns of
2:51civilization the dark ages in the
2:54history of mankind's progress when the
2:56accumulated knowledge of centuries
2:59vanished from the lives of men who were
3:02unable unwilling or forbidden to think
3:09[Music]
3:11in order to sustain his life every
3:15living species has to follow a certain
3:17course of action required by its nature
3:21the action required to sustain human
3:24life is primarily intellectual
3:28everything man needs has to be
3:30discovered by his mind and produced by
3:33his effort production is the application
3:38of reason to the problem of survival if
3:44some men do not choose the thing they
3:47can survive only by imitating and
3:50repeating a routine of work discovered
3:53by others but those others had to
3:56discover it or none would have survived
3:59if some men do not choose to think or to
4:03work they can survive temporarily only
4:07by looting the goods produced by others
4:10but those others had to produce them or
4:13none would have survived regardless of
4:17what choice is made in this issue by any
4:20man or by any number of men regardless
4:24of what blind irrational or evil course
4:27they may choose to pursue the fact
4:30remains that reason is man's means of
4:34survival and that men prosper or fail
4:37survive or perish in proportion to
4:40degree of their rationality
4:46since knowledge thinking and rational
4:50actions are properties of the individual
4:53since the choice to exercise his
4:56rational faculty or not depends on the
5:00individual man survival requires that
5:04those who think be free of the
5:06interference of those who don't
5:11since men are neither omniscient or
5:14infallible they must be free to agree or
5:17disagree to cooperate or to pursue their
5:21own independent course each according to
5:25his own rational judgment freedom is the
5:29fundamental requirement of man's mind
5:34a rational mind does not work under
5:38compulsion it does not subordinate its
5:41grasp of reality to anyone's orders
5:44directives or controls it does not
5:48sacrifice its knowledge its view of the
5:51truth to anyone's opinions threats
5:54wishes plans or welfare such a mind may
5:59be hampered by others it may be silenced
6:02proscribed imprisoned or destroyed it
6:06cannot be forced a gun is not an
6:10identity the social recognition of man's
6:21rational nature of the connection
6:24between his survival and his use of
6:26reason is the concept of individual
6:29rights rights are a moral principle
6:34defining and sanctioning a man's freedom
6:37of action in a social context
6:39[Music]
6:43they are derived from man's nature as a
6:46rational being and represents a
6:48necessary condition of his particular
6:51mode of survival the right to life is
6:54the source of all rights including the
6:57right to property for a fuller
7:00discussion of Rights I refer you to my
7:02articles on men's rights and the nature
7:05of government in my book capitalism the
7:09unknown ideal in regard to political
7:13economy property rights require special
7:17emphasis man has to work and produce in
7:21order to support his life he has to
7:24support his life by his own effort and
7:26by the guidance of his own mind if he
7:30cannot dispose of the product of his
7:32effort he cannot dispose of his effort
7:35if he cannot dispose of his effort he
7:38cannot dispose of his life without
7:41property rights no other rights can be
7:45practiced
7:48now bearing these facts in mind consider
7:53the question of what social system is
7:56appropriate to men a social system is a
8:01set of moral political economic
8:04principles embodied in society's laws
8:07institutions and government which
8:10determined the relationships the terms
8:12of association among the men living in a
8:16given geographical area
8:20there are only two fundamental questions
8:24or two aspects of the same question that
8:28determine the nature of any social
8:31system does a social system recognize
8:36individual rights and does a social
8:40system ban physical force from human
8:44relationships the answer to the second
8:47question is the practical implementation
8:50of the answer to the first
8:55is man a sovereign individual who owns
8:59his person his mind his life his work
9:02and its product or is he the property of
9:05the tribe the state the society the
9:09collective that may dispose of him in
9:11any way it places that may dictate his
9:14convictions prescribed the course of his
9:17life control his work and expropriate
9:20his product does men have the right to
9:25exist for his own sake or is he born in
9:29bondage as an indentured servant who
9:32must keep buying his life by serving the
9:36tribe but can never acquire it free and
9:39clear this is the first question to
9:43answer
9:43the rest is consequences and practical
9:47implementations the basic issue is only
9:51is man free in mankind's history
9:57capitalism is the only system that
10:00answers yes
10:06capitalism is a social system based on
10:09the recognition of individual rights
10:12including property rights in which all
10:16property is privately owned
10:21the recognition of individual rights and
10:24Tails the banishment of physical force
10:27from human relationships
10:28basically rights can be violated only by
10:32means of force in a capitalist society
10:36no man or group may initiate the use of
10:40physical force against others the only
10:44function of the government in such a
10:46society is the task of protecting men's
10:50rights that is the task of protecting
10:53him from physical force the government
10:57acts as the agent of man's right of
11:00self-defense and may use force only in
11:04retaliation and only against those who
11:08initiate its use thus the government is
11:12the means of placing the retaliatory use
11:15of course under objective control it is
11:21the basic metaphysical fact of man's
11:24nature the connection between his
11:27survival and his use of reason that
11:30capitalism recognizes and protects in a
11:35capitalist society all human
11:38relationships are voluntary men are free
11:42to cooperate or not to deal with one
11:45another or not as their own individual
11:48judgments convictions and interested
11:51date they can deal with one another only
11:55in terms of and by means of reason that
11:59is by means of discussion persuasion and
12:03contractual agreement by a voluntary
12:06choice to mutual benefit the right to
12:10agree with others is not a problem in
12:13any society it is the right to disagree
12:17that is crucial it is the institution of
12:21private property that protects and
12:25implements the right to disagree and
12:27thus keeps the road open to man's most
12:31valuable attribute the key
12:34mind this is the Cardinal difference
12:39between capitalism and any form of
12:42collectivism the moral justification of
12:49capitalism does not lie in the altruist
12:52claim that it represents the best way to
12:55achieve the common good it is true that
12:59capitalism does if that catchphrase has
13:03any meaning but this is merely a
13:06secondary consequence the moral
13:09justification of capitalism lies in the
13:12fact that it is the only system
13:15consonant with man's rational nature
13:18that it protects man's survival qua men
13:22and that its ruling principle is justice
13:29every social system is based explicitly
13:33or implicitly on some theory of ethics
13:37the tribal notion of the common good has
13:42served as the moral justification of
13:44most social systems and of all tyrannies
13:48in history the degree of a society's
13:52enslavement or freedom corresponded to
13:55the degree to which that tribal slogan
13:58was involved or ignored the common good
14:02or the public interest is an undefined
14:07an undefinable concept there is no such
14:12entity as the tribe or the public the
14:16tribe or the public or society is only a
14:21number of individual men nothing can be
14:25good for the tribe as such
14:28good and value pertain only to a living
14:33organism to an individual living
14:36organism not to a disembodied aggregates
14:40of relationships when the common good of
14:46a society is regarded as something apart
14:50from and superior to the individual good
14:53of its members it means that the good of
14:57some men takes precedence over the good
15:00of others with those others consigned to
15:04the status of sacrificial animals what
15:09makes the victims accept it and permit a
15:13society to perpetrate a moral atrocity
15:17of that kind the answer lies in
15:22philosophy in philosophical theories on
15:25the nature of moral values there are in
15:34essence three schools of thought on the
15:37nature of the good the intrinsic the
15:40subjective and the objective the
15:43intrinsic theory holds that the good is
15:47inherent in certain things or actions as
15:51such regardless of their context and
15:54consequences regardless of any benefit
15:58or injury they may cause to the actors
16:01and subjects involved it is a theory
16:06that divorces the concept of good from
16:09beneficiaries and the concept of value
16:12from value and purpose claiming that the
16:17good is good in by and of itself the
16:23subjective theory holds that the good
16:26bears no relation to the facts of
16:29reality that it is the product of a
16:32man's consciousness created by his
16:35feelings desires intuitions or whims and
16:39that it is merely and
16:41arbitrary posture or an emotional
16:44commitment the intrinsic theory holds
16:50that the good resides in some sort of
16:53reality independent of man's
16:56consciousness the subjective theory
16:59holds that the good resides in man's
17:01consciousness independent of reality the
17:07objective theory holds that the good is
17:10neither an attribute of things in
17:13themselves nor of men's emotional states
17:18but an evaluation of the facts of
17:22reality by man's consciousness according
17:27to a rational standard of valid
17:30rational in this context means derived
17:34from the facts of reality and validated
17:38by a process of reason the objective
17:43theory holds that the good is an aspect
17:47of reality in relation to men and that
17:51it must be discovered not invented by
17:55men fundamental to an objective theory
17:59of values is the question of value to
18:04whom and for what an objective Theory
18:08does not permit context dropping or
18:11concept stealing it does not permit the
18:14separation of value from purpose of the
18:19good from benefices and of man's actions
18:22from reason of all the social systems in
18:27mankind's history capitalism is the only
18:31system based on an objective theory of
18:36values the intrinsic theory and the
18:41subjectivist theory or a mixture of both
18:44are the necessary base of every
18:47dictatorship tyranny or variant of the
18:50absolute state whether they are held
18:53consciously
18:55subconsciously in the explicit form of a
18:59philosophers treatise or in the implicit
19:02cares of its occurs in an average man's
19:06feelings these theories make it possible
19:09for a man to believe that the good is
19:13independent of man's mind and can be
19:16achieved by physical force if a man
19:21believes that the good is intrinsic in
19:24certain actions he will not hesitate to
19:28force others to perform them if he
19:31believes that the human benefit or
19:33injury caused by such actions is of no
19:37significance
19:38he will regard a sea of blood as of no
19:41significance if he believes that the
19:44beneficiaries of such actions are
19:47irrelevant or interchangeable he will
19:51regard a wholesale slaughter as his
19:54moral duty in the service of a quote
19:58higher good unquote it is the intrinsic
20:03theory of values that produces a robbed
20:07spear a Lenin Stalin or a Hitler
20:11it is not an accident that Eichmann was
20:16a Kantian if a man believes that the
20:22good is a matter of arbitrary subjective
20:25choice the issue of good or evil becomes
20:29for him an issue of my feelings or
20:33there's no bridge understanding or
20:38communication is possible to him reason
20:42is the only means of communication among
20:45men and an objectively perceivable
20:49reality is their only common frame of
20:53reference when these are invalidated
20:57that is held to be irrelevant in the
21:00field of morality force becomes man's
21:04only way of dealing with one another
21:07if the subjectivist wants to pursue some
21:11social ideal of his own he feels morally
21:16entitled to force man what for their own
21:19good
21:20unquote since he feels that he is right
21:24and that there is nothing to oppose him
21:27but their misguided feelings
21:30thus in practice the proponents of the
21:35intrinsic and the subjective schools
21:38meet and blend it is doubtful whether
21:44anyone can hold either of the theories
21:47as an actual if mistaken conviction but
21:52both serve as a rationalization of power
21:56lust and a rule by brute force
22:00unleashing the potential dictator and
22:03disarming his victims the objective
22:10theory of values is the only moral
22:13theory incompatible with rule by force
22:18capitalism is the only system based
22:22implicitly on an objective theory of
22:25values and the historic tragedy is that
22:29this has never been made explicit if one
22:35knows that the good is objective that is
22:39determined by the nature of reality but
22:43to be discovered by man's mind one knows
22:47that an attempt to achieve the good by
22:50physical force is a monstrous
22:53contradiction in terms which negates
22:56morality at its root by destroying man's
23:00capacity to recognize the good that is
23:03his capacity to value force invalidates
23:08and paralyzes a man's judgment demanding
23:12that he act against it thus rendering
23:15him morally impotent
23:18a value which one is forced to accept at
23:22the price of surrendering one's mind is
23:25not a value to anyone
23:28the forcibly mindless can neither judge
23:31nor choose nor value an attempt to
23:35achieve the good by force is like an
23:38attempt to provide a man with a picture
23:41gallery at the price of cutting out his
23:44eyes values cannot exist cannot be
23:48valued outside the full context of a
23:52man's life needs goals and knowledge the
23:59objective view of values permeates the
24:03entire structure of a capitalist society
24:07the recognition of individual rights
24:11implies the recognition of the fact that
24:14the good is not an ineffable abstraction
24:18in some supernatural dimension but a
24:21value pertaining to reality to this
24:24earth to the lives of individual human
24:28beings note the right to the pursuit of
24:32happiness it implies that the good
24:35cannot be divorced from beneficiaries
24:38that men are not to be regarded as
24:41interchangeable and that no man or tribe
24:45may attempt to achieve the good of some
24:48at the price of the emulation of others
24:55the free market represents the social
24:58application of an objective theory of
25:02values since values are to be discovered
25:06by man's mind men must be free to
25:09discover them to think to study to
25:12translate their knowledge into physical
25:14form to offer their products for trade
25:18to judge them and to choose be it a
25:22material goods or an idea a loaf of
25:26bread or a philosophical treatise since
25:30values are established contextually
25:32every man must judge for himself in the
25:36context of his own knowledge goals and
25:39interests since values are determined by
25:43the nature of reality it is reality that
25:47serves as man's ultimate arbiter if a
25:51man's judgment is right the rewards are
25:54his if it is wrong he is his only victim
25:59it is in regard to a free market that
26:02the distinction between an intrinsic
26:06subjective and objective view of values
26:09is particularly important to understand
26:13the market value of a product is not an
26:17intrinsic value not a value in itself
26:21hanging in a vacuum every market never
26:25loses sight of the question of value to
26:29whom and within the broad field of
26:33objectivity the market value of a
26:36product does not reflect its
26:40philosophically objective value but only
26:43its socially objective value
26:47by philosophically objective I mean a
26:51value estimated from the standpoint of
26:55the best possible to men that is by the
26:58criterion of the most rational mind
27:01possessing the greatest knowledge in a
27:04given category in a given period and in
27:07a defined context nothing can be
27:10estimated in an undefined context for
27:14instance it can be rationally proved
27:17that the airplane is objectively of
27:21immeasurably greater value to men to men
27:24at his best than the bicycle and that
27:28the works of Victor Hugo are objectively
27:32of immeasurably greater values and true
27:35confession magazines but if a given
27:41man's intellectual potential can barely
27:45manage to enjoy true confessions there
27:48is no reason why his meager earnings the
27:52product of his effort should be spent on
27:55books he cannot read or on subsidizing
27:59the airplane industry if his own
28:02transportation needs do not extend
28:05beyond the range of a bicycle nor is
28:10there any reason why the rest of mankind
28:13should be held down to the level of his
28:16literary taste his engineering capacity
28:19and his income values are not determined
28:25by fired nor by majority rule just as
28:29the number of its adherents is not a
28:32proof of an ideas truth or falsehood of
28:36an art works merit or demerit of a
28:40products efficacy or in efficacy so the
28:44free market value of goods or services
28:47does not necessarily represent their
28:51philosophically objective value but only
28:54is their socially objective value
28:57that is the sum of the individual
29:01judgments of all the men involved in
29:04trade at a given time the sum of what
29:08they valued each in the context of his
29:12own life
29:14thus a manufacturer of lipstick
29:17may well make a greater fortune than a
29:20manufacturer of microscopes even though
29:23it can be rationally demonstrated that
29:26microscopes are scientifically more
29:29valuable than lipstick but valuable to
29:34whom a microscope is of no value to a
29:38little stenographer struggling to make
29:40living a lipstick to her may mean the
29:45difference between self confidence and
29:47self doubt between glamour and Rajai
29:51this does not mean however that the
29:54various ruling a free-market are
29:56subjective if the stenographer spends
29:59all her money on cosmetics and has none
30:03left to pay for the use of a microscope
30:05for a visit to the doctor when she needs
30:09it she learns a better method of
30:12budgeting her income the free market
30:16serves as her teacher she has no way to
30:19penalize others for her mistakes if she
30:24budgets rationally the microscope is
30:26always available to serve her own
30:29specific needs and no more as far as she
30:33is concerned she is not taxed to support
30:38an entire Hospital a research laboratory
30:41or a spaceships journey to the moon
30:44within her own productive power she does
30:47pay a part of the cost of scientific
30:51achievements when and as she needs a she
30:54has no social duty her own life is her
30:59only responsibility and the only thing
31:02that the capitalist system requires of
31:05her is the thing that nature requires
31:08rationality that is that she live an act
31:12to the best of her own judgment within
31:17every category of goods and services
31:20offered on a free market it is the
31:24purveyor of the best product at the
31:27cheapest price who wins the greatest
31:30financial rewards in that field not
31:34automatically nor immediately nor by
31:37fire but by virtue of the free market
31:41which teaches every participant to look
31:44for the objective best within the
31:47category of his own competence and
31:51penalizes those who act on irrational
31:54considerations now observe that the free
31:58market does not level man down to some
32:01common denominator that the intellectual
32:05criteria of the majority do not rule
32:08every market or a free society and that
32:12the exceptional man the innovators the
32:15intellectual Giants are not held down by
32:19the majority in fact it is the members
32:23of this exceptional minority who lift
32:27the whole of a free society to the level
32:30of their own achievements while rising
32:33further and ever further a free market
32:39is a continuous process that cannot be
32:43held still and upward crosses the
32:46demands the best the most rational of
32:49everyman and rewards him accordingly
32:53while the majority have barely
32:56assimilated the value of the automobile
32:59the creative minority introduces the
33:02airplane the majority learn by
33:06demonstration the minority is free to
33:09demonstrate
33:10the philosophically objective value of a
33:15new product serves as the teacher for
33:18those who are willing to exercise their
33:21rational faculty each to the extent of
33:24his ability those who are unwilling
33:27remain unrewarded as well as those who
33:32aspire to more than their ability
33:35produces the stagnant the irrational the
33:40subjectivist have no power to stop their
33:43betters the small minority of adults who
33:48are unable rather than unwilling to work
33:51have to rely on voluntary charity
33:55misfortune is not a claim to slave labor
34:00there is no such thing as the right to
34:03consume control and destroys those
34:06without whom one would not be able to
34:10survive
34:11as to depressions and mass unemployment
34:15they are not caused by the free market
34:18but by government interference into the
34:22economy the mental parasites the
34:27imitators who attempt to cater to what
34:30they think is the public's known tastes
34:33are constantly being beaten by the
34:36innovators whose products
34:39praise the public's knowledge and taste
34:41to ever higher levels it is in this
34:45sense that the free market is ruled not
34:48by the consumers but by the producers
34:51the most successful ones are those who
34:55discover new fields of production fields
34:58which had not been known to exist a
35:01given product may not be appreciated at
35:05once particularly if it is too radical
35:08and innovation but barring irrelevant
35:13accidents it wins in the long run it is
35:17in this sense that the free market is
35:20not ruled by the intellectual criteria
35:23of the majority which prevail only at
35:27and for any given moment the free market
35:32is ruled by those who are able to see
35:35and plan long range and the better the
35:39mind the longer during the economic
35:45value of a man's work is determined on a
35:49free market by a single principle by the
35:53voluntary consent of those who are
35:56willing to trade him their work or
35:58products in return this is the moral
36:02meaning of the law of supply and demand
36:06it represents the total rejection of two
36:10vicious doctrines the tribal premise and
36:14altruism
36:16it represents the recognition of the
36:18fact that man is not the property not
36:22the servant of the tribe that a man
36:25works in order to support his own life
36:28as by his nature he must that he has to
36:32be guided by his own rational
36:34self-interest and if he wants to trade
36:38with others he cannot expect sacrificial
36:42victims that is he cannot expect to
36:45receive values without trading
36:48commensurate values in return the sole
36:52criterion of what is commensurate in
36:55this context is the free voluntary
36:59uncoerced judgment of the traders
37:05the Magnificent progress achieved by
37:09capitalism in a brief span of time the
37:13spectacular improvement in the
37:15conditions of man's existence on earth
37:17is a matter of historical record it is
37:21not to be hidden evaded or explained
37:24away by all the propaganda of
37:27capitalism's enemies but what needs
37:30special emphasis is the fact that this
37:34progress was achieved by non sacrificial
37:38means progress cannot be achieved by
37:43force privations by squeezing a so
37:47called social surplus out of starving
37:50victims progress can come only out of
37:55individual surplus that is from the work
37:58the energy the creative overabundance of
38:02those men whose ability produces more
38:05than their personal consumption requires
38:08those who are intellectually and
38:11financially able to seek the new to
38:14improve on the known to move forward in
38:19a capitalist society where such men are
38:22free to function and to take their own
38:25risks progress is not a matter of
38:29sacrificing to some distant future it is
38:32part of the living present it is the
38:35normal and natural it is achieved as and
38:39while men live and enjoy their lives now
38:45consider the alternative the tribal
38:48society where all men throw their
38:52efforts values ambitions and goals into
38:55a tribal poo or common pot then wait
38:59hungrily at its rim while the leader of
39:02a clique of cooks stirs it with a
39:05bayonet in one hand and a blank check on
39:09all their lives in the other the most
39:12consistent example of such a system is
39:16the union of socialists
39:18republics half a century ago the Soviet
39:24rulers commanded their subjects to be
39:26patient bear privations and make
39:30sacrifices for the sake of
39:33industrializing the country promising
39:36that this was only temporary
39:38that industrialization would bring some
39:41abundance and Soviet progress would
39:44surpass the capitalistic West today
39:49Soviet Russia is still unable to feed
39:53her people while the rulers scrambled to
39:56copy borrow or steal the technological
40:00achievements of the West's
40:02industrialization is not a static goal
40:06it is a dynamic process with a rapid
40:10rate of obsolescence
40:12so the retched serves of a plan
40:16tribal economy who starved while waiting
40:19for electric generators and tractors are
40:23now starving while waiting for atomic
40:26power and interplanetary travel thus in
40:31a people's state the progress of science
40:36is a threat to the people and every
40:39advance is taken out of the people's
40:42shrinking Heights this was not the
40:47history of capitalism
40:51America's abundance was not created by
40:55public sacrifices to the common good but
40:59by the productive genius of freemen who
41:03pursued their own personal interests and
41:06the making of their own private fortunes
41:11they did not starve the people to pay
41:14for America's industrialization they
41:18gave the people better jobs higher wages
41:21and cheaper goods with every new
41:25machines they invented with every
41:28scientific discovery or technological
41:31advance and thus the whole country was
41:35moving forward and profiting not
41:38suffering every step of the way do not
41:50however make the error of reversing
41:53cause and effect the good of the country
41:57was made possible precisely by the fact
42:01that it was not forced on anyone as a
42:05moral goal or duty it was merely an
42:09effect the cause was a man's right to
42:13pursue his own good it is this right not
42:18its consequences that represents the
42:21moral justification of capitalism
42:24but this right is incompatible with the
42:29intrinsic or the subjective theory of
42:32values with the altruist morality and
42:35the tribal premise it is obvious which
42:40human attribute one rejects when one
42:44rejects objectivity and in view of
42:48capitalism's record it is obvious
42:51against which human attribute the
42:53authorized morality and the tribal
42:56premise stand united against man's mind
43:01against intelligence particularly
43:04against intelligence apply to the
43:07problems of human survival that is
43:11productive ability while altruism seeks
43:16to rob intelligence of its rewards by
43:20asserting that the moral duty of the
43:22competent is to serve the incompetent
43:25and sacrifice themselves to anyone's
43:28need the tribal premise goes a step
43:32further it denies the existence of
43:36intelligence and of its role in the
43:39production of wealth it is morally
43:43obscene to regard wealth as an anonymous
43:48tribal product and to talk about
43:52redistributing it the view that wealth
43:55is the result of some undifferentiated
43:58collective process that we all did
44:02something and it's impossible to tell
44:04who did what therefore some sort of
44:07equalitarian distribution is necessary
44:10might have been appropriate in the
44:14primordial jungle with a savage horde
44:17moving borders by crude physical labor
44:20though even there someone had to
44:23initiate and organize the moving
44:26to hold that view in an industrial
44:30society where individual achievements
44:34are a matter of public record is so
44:37crass innovation that even to give it
44:40the benefit of the doubt is an obscenity
44:44observe how seldom and how inadequately
44:49the issue of human intelligence is
44:52discussed in the writings of the tribal
44:55status altruist irritations observe how
45:00carefully today's advocates of a mixed
45:03economy avoid and evade any mention of
45:07intelligence or ability in their
45:10approach to political economic issues in
45:14their claims demands and pressure group
45:17warfare over the looting of the court
45:21total social product first quarter it is
45:25often asked why was capitalism destroyed
45:29in spite of its incomparably be netizen
45:32record the answer lies in the realm of
45:36philosophy capitalism could not survive
45:41in a culture dominated by mysticism and
45:45altruism no social system and no human
45:49institution or activity of any kind can
45:52survive without a moral base on the
45:56basis of the altruist morality
45:59capitalism had to be and was them from
46:03the start
46:05the guiltiest men today are not the
46:10collectivist
46:11the guiltiest men are those who lacking
46:16the courage to challenge mysticism and
46:19altruism attempt to bypass the issues of
46:23reason and morality and attempt to
46:27defend the only rational and moral
46:30system in mankind's history capitalism
46:34on any grounds other than rational and
46:38moral thank you
47:00you

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