Greenspan’s Folly: The Demise of the Cult of Self-Interest
Abstract
The article discusses the influence of the objectivist philosophy of late Ayn Rand to the philosophical principle of Alan Greenspan. It reveals that Greenspan admits his wrong principle for deregulation of financial markets and reliance to self-regulation to achieve freedom and prosperity. He implies on the incompatibility of applying the egoist ethic by Rand in managing the financial market of the U.S. It also discusses the flaws of the philosophy of Rand and the wisdom of virtue ethics.
This paper has been withdrawn.