"Federal Reserve Chairman Alan Greenspan: iconic libertarian, preeminent defender of the free market, and (at least until recently) the nation’s foremost devotee of Ayn Rand. When the high priest of capitalism himself is declaring the growth in economic inequality a national crisis, something has gone very, very wrong."
The above paragraph suggests that the author is aware of Ayn Rand and disagrees with both her (who was not libertarian) and the libertarians. Then the author goes on to imply that the free market is responsible for the rising income inequality and to put all the rich under the same common denominator, with no regard for the source of their wealth (note how many names are cited and the widely varying reputations of the businessmen in question). Ayn Rand is very explicit on the distinction of gaining wealth through thoughtful and productive effort on the one hand and through special privileges on the other. It is this observation that the author has ignored.
Second, the author concludes that "the lesson of history is that, in the long run, super-elites have two ways to survive: by suppressing dissent or by sharing their wealth", so they must choose one of these options. This message ends an article that would constitute a weak response to Ayn Rand (if the article was meant to be one). It sanctions a systems that says: the rich, no matter how they got to be rich in the first place, should either abuse the rest of the population, as they often did in feudal times, or will have to see their property seized by force, as it is done in socialist and communist countries. Otherwise, they cannot survive. Well, that's a very dangerous proposition for individual rights.
The above paragraph suggests that the author is aware of Ayn Rand and disagrees with both her (who was not libertarian) and the libertarians. Then the author goes on to imply that the free market is responsible for the rising income inequality and to put all the rich under the same common denominator, with no regard for the source of their wealth (note how many names are cited and the widely varying reputations of the businessmen in question). Ayn Rand is very explicit on the distinction of gaining wealth through thoughtful and productive effort on the one hand and through special privileges on the other. It is this observation that the author has ignored.
Second, the author concludes that "the lesson of history is that, in the long run, super-elites have two ways to survive: by suppressing dissent or by sharing their wealth", so they must choose one of these options. This message ends an article that would constitute a weak response to Ayn Rand (if the article was meant to be one). It sanctions a systems that says: the rich, no matter how they got to be rich in the first place, should either abuse the rest of the population, as they often did in feudal times, or will have to see their property seized by force, as it is done in socialist and communist countries. Otherwise, they cannot survive. Well, that's a very dangerous proposition for individual rights.