5 ms·

Say what you like about Ayn Rand, but she was hardly a fan of out-of-control government/private collusion to seize individuals property in a manner completely o

• rdtsc 13y ago
  That was the flaw in her reasoning that big business and govt can and will be somehow separate entities. They never are. They are effectively the same entity. Look at chiefs and heads of regulatory agencies, they are often ex or future CEO of industries those agencies are supposed to police. Look at many military industrial contractors they often hire ex-generals and so on. And all this in the land of "law and order". Imagine in other countries with less "law and order".
  • theorique 13y ago
    For sure. Good point about the contractors hiring generals. There are lots of different revolving doors in different industries. If you work at a major investment bank, why would you speak out against government regulation of your industry when you might need a bailout some year in the future? If you work at a government regulator (e.g. the SEC), why would you regulate the industry too hard when they are going to be your biggest source of consulting fees after you leave your government employment? For example, Bernie Madoff's brother was a director of SIFMA (Securities Industry and Financial Markets Association) for two years.