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19th-Century Capitalism

Ayn Rand

Presented at: Ayn Rand On Campus - Columbia WKCR Interviews

Date: Jan 01, 1962

From 1962-1965, Ayn Rand conducted a series of radio interviews at Columbia University's student run radio station, WKCR. The series, entitled "Ayn Rand on Campus," covered a broad range of topics. This talk is from that series.

19th Century Capitalism 

Ayn Rand discusses myths and misunderstandings of capitalism, illustrating her points with historical examples from American history such as the railroads, land grants, monopolies, U.S. Steel, tariffs, antitrust laws, financial "panics," public utilities, the Homestead Act, and the 1929 stock market crash. Rand also explains some common misunderstandings about capitalism involving "price wars" and coercive monopolies. 
Rand's discussion of the American Constitution includes her argument that the interstate commerce clause and eminent domain clause contradict the document's purpose. Touching on the issue of tax reform, she explains how (and how not) to reform laws in order to move toward a free market system, and she offers suggestions on how the government of a free society could be funded.


Parts: 1

Handout: none


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