Looterism: The Cancerous Ethos That Is Gutting America | Hacker News Reader

Looterism: The Cancerous Ethos That Is Gutting America

pandodaily.com

34 pointsScotterC12 comments

Wherein the concept of ‘value creation’ is never quite defined, and the author seems blind to several thousand years of well-documented human history where individuals relentlessly pursued self-interest, sometimes resulting in common benefit and sometimes in common suffering. But no, apparently this is all a new phenomenon.

It's very Ayn Randish, Atlas Shrugged stuff but some days I can't help but feel this way.

I'm curious how you're making the connection between "Atlas Shrugged" and the "looterism" in the article.

The one's who do not want to create value but use the benefits of other's hard work.

"Rand's heroes must continually fight against "parasites", "looters", and "moochers" who demand the benefits of the heroes' labor. Edward Younkins describes Atlas Shrugged as "an apocalyptic vision of the last stages of conflict between two classes of humanity — the looters and the non-looters"

http://en.wikipedia.org/wiki/Atlas_shrugged#Property_rights_...

uhh, the looters in the article are bankers and CEO's. The looters in Atlas Shrugged are government and people on welfare. Very different definitions.

  "the looters in the article are bankers and CEO's"
  "ooters in Atlas Shrugged are government and people on 
  welfare"

But sir (or madam!), I believe you repeat yourself here.

In all seriousness, I think that Rand would've been pretty annoyed at what's come to pass--the capitalist fetishism espoused in works such as Atlas Shrugged does not take kindly to those that do not actually generate capital and wealth.

Also, you are strictly incorrect about the looters in Atlas Shrugged: one of the largest groups of looters (embodied in James Taggart and his cohorts) in the novel are the businessmen who use lobbyists to further their companies and stifle competition. This should, incidentally, seem somewhat familiar to anyone watching the news for the past decade.

The looters in America right now fetishize Rand.

"I doubt anyone can pinpoint the exact reason for the transformation."

I believe I can very much pin-point it. It was the creation of the Federal Reserve.

What we are seeing now is the final stage where everyone with a bit of brains realizes that the way to make money is to attach oneself as closely as possible to the great gushing fiat spigots emerging from the FIRE and government sectors, and malinvestment sits rudely triumphant on the wreck of america's productive economy.

Please elaborate. I don't fully comprehend what you're pointing to.

http://ycombinator.com/newsguidelines.html

"Please don't bait other users by inviting them to downmod you."

unbaited

Yeah, before the Federal Reserve came along, we never had these sorts of problems...

http://en.wikipedia.org/wiki/Panic_of_1857 http://en.wikipedia.org/wiki/Panic_of_1873 http://en.wikipedia.org/wiki/Panic_of_1893 http://en.wikipedia.org/wiki/Panic_of_1907

Reply on news.ycombinator.com