The Adam Smith Institute
The Adam Smith Institute is the UK's leading innovator of free-market policies. Named after the great Scottish economist and author of The Wealth of Nations, its guiding principles are free markets and a free society. It researches practical ways to inject choice and competition into public services, extend personal freedom, reduce taxes, prune back regulation, and cut government waste.

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Why be interested in Ayn Rand?
By Dr Eamonn Butler

Sir Samuel Brittan's new book, Against the Flow, is a splendid collection of insightful short essays on international affairs, political economy, and modern thinkers.

I was drawn to his chapter "Why be interested in Ayn Rand?" because ASI has a seminar on Rand coming up on Wednesday 2 February, with excellent speakers including Elaine Sternberg, Kenneth Irvine, Tom Burroughes and Andrew Medworth.

And why be interested in Rand? Well, says Brittan, her politics were not straightforward. Though she claimed her views were based on pure reason, her life and values (he says) were coloured by the fact that she was born (Jewish) in pre-revolutionary Russia, had to take refuge during Russia's civil war, and maintained deeper personal connections in Russia than she chose to admit.

The second point of interest, says Brittan, is that she made her impact not through academic or political tracts, but through novels. Viewed as fiction, these are of 'decidedly mixed' quality, with 'ideal' but cardboard characters. Yet she writes with verve, and through this medium has reached far more people than some dusty academic tract ever could.

Thirdly, Rand is interesting because of the fundamental challenge she poses to collectivism: saying that what people create is theirs, and any attempt to tax it or regulate its use is immoral. Well, maybe: but there is no doubt that the political debate of today could use a dose of her radicalism.



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Adam Smith (1723-1790)
Adam Smith was the great Scottish philosopher and economist best known for "The Wealth of Nations", his pioneering book on free trade and market economics.

A wide selection of material about Adam Smith is now available on the Adam Smith website. This includes the full text of his two major works, The Theory of Moral Sentiments and The Wealth of Nations.