Alan Greenspan Is Not John Galt

 Posted by on 7 November 2008 at 5:23 pm  Activism, Finance
Nov 072008

John Lewis published an excellent letter to the editor on Alan Greenspan and Ayn Rand in the News & Observer yesterday:

Wrong Analogy

In Ayn Rand’s novel “Atlas Shrugged,” her hero, John Galt, refuses to accept the position of economic dictator. Alan Greenspan accepted such a position as head of the government’s central bank, and his dictates were enforced over an economy burdened with thousands of pages of regulations.

Greenspan’s own flawed ideas have nothing in common with Rand’s philosophy. Nor was the U.S. economy ever set free of government control. Had Froma Harrop (Other Opinion, Oct. 30) discussed the content of Rand’s philosophy along with the actual state of business regulation, this would have been clear.

John David Lewis, Durham

Great letter, John!

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