The Uncompromised Case for Capitalism
Ayn Rand Institute®
October 8, 2012 by Yaron Brook
He belabors his points too much in this one, you can almost feel the audience shifting in their seats. It feels like he tried to stretch out his normal talk an extra 15 minutes. Still good quality though.
And now we are no longer protected re “property rights”! Check out TX pipeline argument!
Great talk, but two minor objections:
1. That quote about insanity wasn’t really by Einstein.
2. We really do need elevator inspectors, and little plaques that say the elevator was inspected, even if we don’t need government to do it. Elevator manufacturers may make a fine and safe product, but if it isn’t properly maintained by the building owner it may well fail. I’d like to see some assurance that it has been inspected recently by a trusted agency.
I have visited the Philippines recently and have been to many malls where there are many escalators. They all seemed to be in good repair even though there are not government appointed inspectors checking them. The same thing goes for most other things. The taxi may be a bit tired, but they know when to retire it or even change that bald tire. If they get a bad reputation they have no business. If someone gets sick from buying a cooked chicken that was not cooked thoroughly, word gets around and they have no customers and are out of business. People are selling them out of a storefront in front of their habitation. In spite of the lack of government inspection and regulation, things were pretty self regulating. If they were forced to the standards and regulations we have, many people would have no income or way to support their families.
Besides, that ‘definition of insanity’ quote is just dumb regardless who said it. If I buy a lottery ticket every week expecting that I may get a different result this time, I may be unwise, but I’m not insane.