AS GREENSPAN GOES, THE GREAT SOCIETY PART II ©

Alan Greenspan is considered the master of money; his words can and do cause the stock market to move. Greenspan is thought to be an economic guru. His forecasts shape the future of America, and the future of the world. Many consider it noteworthy that Greenspan served under several presidents, Republicans and Democrats alike. He was a Federal Reserve Board member under Nixon, Ford, and Reagan and in 1987, President Ronald Reagan appointed him as chair. All presidents have done the same ever since. Some believe Greenspan is independent and bipartisan, however, the Federal Reserve Chairman has his loyalties. “Economic well being for all” is not among these.

Alan Greenspan is a man of principles; principally he is a follower of “rational hedonism.” While Mr. Greenspan has long been a civil servant, his most significant service may have taken place during his formative years. It may be argued that his earlier employ was not the most important, nonetheless, few can dispute that it was the most influential.

Alan Greenspan was an associate and disciple for author and philosopher Ayn Rand. Ms. Rand advocates and writes of “The Virtue of Selfishness.” She actively promotes individualism. Rand rejects the notion of government. Essayist Rand rebuffs the basics of democracy. She unabashedly rebukes the idea of the Great Society; it is contrary to all that she believes. She supports “Objectivism.” She states that her “philosophy is, in essence, the concept of man as a heroic being, with his own happiness as the moral purpose of his life.” Encouraging independence is the Rand mission.

Ayn Rand denounces religion. She speaks out against compulsory charity. She expresses strident disapproval for government regulations. In her book, “Capitalism, The Unknown Ideal” she suggests that “altruist” are the embodiment of “evil.” She thinks restrictions inhibit businesses and businesses are the foundation for a flourishing society. Rand considers inflation iniquitous; she explains that government is its source.

Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people's savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.
Ayn Rand, "Who Will Protect Us From Our Protectors?" The Objectivist Newsletter, May 1952

Ayn Rand declares, “Government has no obligation to the less fortunate.” This last statement endears her to elitists, extremists, ultra-conservatives, neo-conservatives, and those such as Alan Greenspan.

Mr. Greenspan’s involvement with Ayn Rand was not superficial; nor was it from afar. In 1950, after completing his Master of Arts degree, Alan Greenspan joined the Ayn Rand Institute. For more than twenty years, Mr. Greenspan penned the Rand newsletter. Greenspan also authored a chapter in one of Ms. Rand’s books! In other words, Greenspan wrote and spoke prolifically for “Social Darwinism”!