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Essay / Research Paper Abstract
This is a 5 page paper discussing the concepts in Ayn Rand’s “Capitalism: The Unknown Ideal”. Ayn Rand’s 1962 text “Capitalism: The Unknown Ideal” is important in the fields of philosophy and economics in that it introduces the readers, or reminds the readers, what the true essence of capitalism is and not that which has been misunderstood and construed with economic and political misconceptions. For Rand, and others who follow the ideals of libertarianism and objectivism, capitalism is the only system which allows for the freedom of man’s rational nature and its ruling principle is justice. True capitalism is actually a social system based on the principle of individual rights and is not to be confused with the capitalist constructions developed during the industrial ages which saw the development of “wage slaves” to the owners of the factories. Instead, capitalism is based on man’s trade through free exchange and mutual benefit.
Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: D0_TJARand1.rtf
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Unformatted sample text from the term paper:
essence of capitalism is and not that which has been misunderstood and construed with economic and political misconceptions. For Rand, and others who follow the ideals of libertarianism and objectivism,
capitalism is the only system which allows for the freedom of mans rational nature and its ruling principle is justice. True capitalism is actually a social system based on the
principle of individual rights and is not to be confused with the capitalist constructions developed during the industrial ages which saw the development of "wage slaves" to the owners of
the factories. Instead, capitalism is based on mans trade through free exchange and mutual benefit. Ayn Rand (1905-1982) was born Alissa Rosenberg in
St. Petersburg, Russia and immigrated to the United States in 1926 where she began her career as a successful screenwriter and writer. Her novels contained themes relating to liberty in
regards to her native Russia in addition to liberty involving sex, money and other issues. From Atlas Shrugged (1957) Rand wrote "my philosophy, in essence, is the concept of man
as a heroic being, with his own happiness as the moral purpose of his life, with productive achievement as his noblest activity, and reason his only absolute" (Powell, 2001; Rand,
1986). Rands "Capitalism: The Unknown Ideal" (1986) was first published in 1962 and exemplified many of her philosophies of libertarianism and objectivism which
she had touched on in her previous works and the concept of capitalism itself is meant in the broader philosophical political sense rather than the narrower economic sense in that
it is a "social system based on the principle of individual rights" (Rand, 2002). In the preface of the work, Rand writes that "no politico-economic system in history has ever
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