Ayn Rand: America’s Abundance
on Thursday, December 8, 2022Meaning of Ayn Rand Money Quote: saying many fortunes have been created and grown to the benefit of the country. Ayn Rand said:
“America’s abundance was created not by public sacrifices to the common good, but by the productive genius of free men who pursued their own personal interests and the making of their own private fortunes. They did not starve the people to pay for America’s industrialization. They gave the people better jobs, higher wages, and cheaper goods with every new machine they invented, with every scientific discovery or technological advance- and thus the whole country was moving forward and profiting, not suffering, every step of the way” — Ayn Rand
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In this quote, Ayn Rand is praising the free market system and private enterprise as the drivers of America’s economic success and abundance. She argues that America’s industrialization and wealth were not created through public sacrifices or taxation, but rather through individuals pursuing their own self-interest and profit motives in business.
Innovators and entrepreneurs created new machines, technologies, and industries not to benefit the common good, but to build their own private fortunes. However, in doing so through free market competition, they simultaneously created more and better jobs for others, higher wages, and lower consumer prices, benefiting the whole country.
Rand is asserting that the free market system allowed whole societies to progress together through individual profit-seeking, rather than requiring public sacrifices for some abstract “common good.”
Birthday: February 2, 1905 – Death: March 6, 1982