Objectivists on Sub-Prime

Since the news that lenders might freeze rates on certain adjustable-rate mortgages is going to be THE story in financial markets today, I thought I'd provide this link to a podcast interview I just did this week with Alex Epstein, analyst with the Ayn Rand Institute regarding the sub-prime lending mess and government's proper role in it.

His answer likely won't surprise you: there is no role, he says!

What may surprise, however, will be the little tid-bit near the end of our discussion, a description he gives of Libertarians.  Most would likely believe that Ayn Rand and Libertarianism are synonymous-- not so, says Mr. Epstein.  In fact, those who may have been heartened by the recent orgasm of hysterical financial support for Ron Paul's quixotic presidential bid will be equally disheartened by Epstein's remarks... pretty interesting stuff on another topic in the news lately.

The Ayn Rand Institute is based in Irvine, by the way.

Comments

[One Who Knows]

This is interesting, but I think you posted it on the wrong blog.

[MrWhipple]

Most would likely believe that Ayn Rand and Libertarianism are synonymous-- not so, says Mr. Epstein.

A fact that libertarians and objectivists have been trying to explain for years. Although there is some crossover between the two groups on small-government issues, most libertarians are not objectivists.

Randianism requires an atheistic, harsh social Darwinism that many libertarians (including myself) find distasteful.