R and R, the id of the 1%
by digby
“What’s unique about what’s happening today in government, in the world, in America, is that it’s as if we’re living in an Ayn Rand novel right now. I think Ayn Rand did the best job of anybody to build a moral case of capitalism, and that morality of capitalism is under assault.”
Mitt Romney’s partner in Bain Capital, Edward Conard:
A central problem with the U.S. economy, he told me, is finding a way to get more people to look for solutions despite these terrible odds of success. Conard’s solution is simple. Society benefits if the successful risk takers get a lot of money. For proof, he looks to the market. At a nearby table we saw three young people with plaid shirts and floppy hair. For all we know, they may have been plotting the next generation’s Twitter, but Conard felt sure they were merely lounging on the sidelines. “What are they doing, sitting here, having a coffee at 2:30?” he asked. “I’m sure those guys are college-educated.”
Conard, who occasionally flashed a mean streak during our talks, started calling the group “art-history majors,” his derisive term for pretty much anyone who was lucky enough to be born with the talent and opportunity to join the risk-taking, innovation-hunting mechanism but who chose instead a less competitive life. In Conard’s mind, this includes, surprisingly, people like lawyers, who opt for stable professions that don’t maximize their wealth-creating potential. He said the only way to persuade these “art-history majors” to join the fiercely competitive economic mechanism is to tempt them with extraordinary payoffs.
Ayn Rand’s vision, per Wikipedia:
“an apocalyptic vision of the last stages of conflict between two classes of humanity — the looters and the non-looters. The looters are proponents of high taxation, big labor, government ownership, government spending, government planning, regulation, and redistribution.”
“Looters” confiscate others’ earnings by force (“at the point of a gun”) and include government officials, whose demands are backed by the implicit threat of force. Some officials are merely executing government policy, such as those who confiscate one state’s seed grain to feed the starving citizens of another; others are exploiting those policies, such as the railroad regulator who illegally sells the railroad’s supplies for his own profit. Both use force to take property from the people who produced or earned it.
“Moochers” demand others’ earnings on behalf of the needy and those unable to earn themselves; however, they curse the producers who make that help possible and are jealous and resentful of the talented upon whom they depend. They are ultimately as destructive as the looters — destroying the productive through guilt, and appealing to “moral right” while enabling the “lawful” looting performed by governments.
And then there are the “parasites” who, according to the “maestro” Alan Greenspan, deserve to perish.
This is the Romney-Ryan vision. They wouldn’t be the first dangerously delusional megalomaniacs to run a world power. But let’s just say it’s never ended very well.