Law, Business and Society 11th Edition by Tony McAdams

تمرين 46

Capitalism in America was built on the strong philosophical foundation of personal freedom and private property rights. Our great natural resources and personal ambition led to extraordinary prosperity. Monopolistic abuse followed, however, and government grew to curb the power of big business. Thus, America's substantially free market was gradually constrained by government regulation. The proper balance between open market and government intervention remains perhaps the central public policy debate in American life.
Should we consider a return to a purer form of capitalism; largely free of government oversight Can we, in large measure, do without government regulation of business The controversial philosopher and novelist Ayn Rand was an uncompromising advocate of free market principles. She believed the necessary categories of government were only three in number: the police, the armed services, and the law courts. Rand's philosophy of Objectivism contends that the practice of free market principles is necessary for a rational, moral life. Rand's views and the quality of her writing are heavily criticized, but she has been cited as a powerful influence by some of America's leading corporate and political figures. Her books, including Atlas Shrugged and The Fountainhead , are among the best-selling novels of all time. Indeed, Atlas Shrugged is one of the most influential business books in history, and according to a national survey, has been read by over 8 percent of American adults.
[For the trailer of a 2011 documentary treatment of Atlas Shrugged , see http://www.youtube.com/watch v=Tv29SXnd2dk feature=related ]
Big business leaders are the great heroes of Rand's writing.
Big business leaders, who so often are the villains of contemporary American life, are the great heroes of Rand's writing, in which she championed "the virtue of selfishness" and rejected self-sacrifice. Commentator Stephen Moore explained Rand's core theme in Atlas Shrugged :
Politicians invariably respond to crises-that in most cases they themselves created-by spawning new government programs, laws and regulations. These, in turn, generate more havoc and poverty, which inspires the politicians to create more programs … and the downward spiral repeats itself until the productive sectors of the economy collapse under the collective weight of taxed and other burdens imposed in the name of fairness, equality and do-goodism.
[See the Center for the Moral Defense of Capitalism at http://www.moraldefense.com ] [For a brief look at major league baseball player Orlando Cabrera's devotion to Atlas Shrugged and a journalist's criticism of Rand's admirers, see http://hardballtalk.nbcsports.com/2011/06/23/orlando-cabrera-is-john-galt/ ]
a. Columnist E. J. Dionne Jr. recently examined the question, "Why are there no libertarian countries " (countries operated on free market/personal freedom principles like those advocated by Ayn Rand). Answer his question.
b. Of all the nations of the world, does the United States enjoy the greatest level of economic freedom Explain. [See the Index of Economic Freedom at www.heritage.org/index/ ]