Hayek's Road to Serfdom #1 on Amazon Today
amazon.com
amazon.com
Reading the comments here, looks like Glenn Beck recommended it? Hey, I'll take folks reading Hayek for any reason. An informed citizenry and all of that.
I don't have a popular cable show, but if I did, I'd do a tour of all the great economists. Talk about raising the discussion level. No matter what their politics, I'll never argue with a talking head that tells his followers to go read some well-known and authoritative work. There's really no downside here.
Although, he'd probably do better to show everyone this (it's educational, hilarious and very well done): http://www.youtube.com/watch?v=d0nERTFo-Sk
http://www.cnn.com/2009/SHOWBIZ/books/04/27/ayn.rand.atlas.s...
Also, have you actually read any of her books, or only reviews of her books? Not trying to be antagonistic, its a genuine question.
http://www.amazon.com/People-Believe-Weird-Things-Pseudoscie...
Philosophically, there are a number of technical points that Rand was wrong about. It's hard to blame her for them, but one is almost forced to because she took herself seriously as a philosopher. (On the other hand, most of the points are of little practical interest.) Chief among this are her failed attempts to rationally justify both knowledge and morality, neither of which are satisfactory in the end. Her grasp of the history of philosophy is poor--she claims Kant as her nemesis while appropriating large parts of Kant's ethics, for instance. These are not entirely unrelated faults--on the points of epistemology where she is able to correctly identify her disagreements with Kant, she fails to grasp the reasons Kant is right and she is wrong.
Her epistemological system (as expressed in Introduction to Objectivist Epistemology) is not clearly either descriptive or prescriptive in its outlook--it seems to attempt both, risking incoherence in the process. As a descriptive work, it comes across as an amateur's guess at cognitive psychology, written without a hint of empirical data. As a prescriptive work, it falls short (Rand talks a lot about concepts but doesn't make one hint towards the subject of propositions) and is hampered by the same free-floating departure from empirical reality that hold it back on descriptive terms.
For Rand as a novelist, I have to question anyone whose idea of a dramatic climax is a 30 page speech about philosophy. I'm not even going to make a joke about the rough sex, because all things considered the rough sex kind of fits into the general atmosphere of her books. She's actually a fairly clear writer if you're predisposed to read logically and literally.
There's a lot good to be said about Ayn Rand, and she's not an entirely bad stop on the path of someone's intellectual development. But as a final destination one can do much better.
On top of that, I resent your attempt at an ad hominem by suggesting that the main audience is sexually hypertensive adolescents. Which is a shame because the rest of your post is sound (even if I don't agree with all of it), and the sophism detracts from that.
This is a shame as I agree with her on many points. I'd rather people were reading Hayek than Rand, though, he's temperamentally more sensible and less... nutty.
Aside from the ambiguous rape scene in Fountainhead, there are a couple of fairly aggressive sex scenes in Atlas Shrugged as well. I mentioned it twice among several paragraphs of serious philosophical criticism, but color of the bikeshed and all that.
"On top of that, I resent your attempt at an ad hominem by suggesting that the main audience is sexually hypertensive adolescents."
That part of my post was autobiographical. But still, I think you're fixating on the sex even more than I was--intellectually inclined, socially outcast adolescents without a taste for rough sex are a better audience for Rand than socially accepted or intellectually incurious adolescents could ever be.
(While today it is #1, it has been in the top 100 a lot recently.)
(Although, part of me would prefer it if you were wrong...)
And if you want enough irony to fill half of Williamsburg: I do own "The Road to Serfdom", haven't read it this far. (It is one of the few books I brought along to the US with me, so as soon as I manage to crawl through frickin' Blood Meridian, it's going to be next).
Plus, as an regular informed investor, I don't think it is too relevant (or actually, useful) anymore in most ways. The gong show in the financial markets in the last 10 years is obviously predictable from the Austrian standpoint, but how one trades it is beyond me (and they don't proclaim to offer this advice, they are only explaining how the world must work over long periods).
There's no way of knowing who to short, for example...a company or now even an entire country can be obviously walking dead, but they can be suddenly bailed out at any time (with money that literally didn't even actually exist the day before), or, rules that have existed for decades can be changed overnight, and can have your ASS handed to you in one hour, for no good economic reason.
I can see how books like this will be read by historians who will shake their heads at how stupid we were, as the perils were already laid out in detail with historic references, but how it can help an individual living through it at the time, is beyond me.
Too dense for me, reading pace was too slow. It's good, but reading it is hard work. I'd recommend "Mystery of Banking" first, which is smaller in scope, easy to read, very informative.
Free here:
http://josephflaherty.tumblr.com/post/30953971/one-of-my-col...
Via Marginal Revolution, http://hayekcenter.org/?p=2719