In 1957 Ayn Rand published Atlas Shrugged, a book about the economic carnage that can result due to big government. This fascinating article discusses the similarities between Rand's great work of fiction and what we are now experiencing today with bailout after bailout... http://online.wsj.com/article/SB123146363567166677.html "For the uninitiated, the moral of the story is simply this: Politicians invariably respond to crises -- that in most cases they themselves created -- by spawning new government programs, laws and regulations. These, in turn, generate more havoc and poverty, which inspires the politicians to create more programs . . . and the downward spiral repeats itself until the productive sectors of the economy collapse under the collective weight of taxes and other burdens imposed in the name of fairness, equality and do-goodism."
Ayn Rand was a reactionary apologist for Capitalist exploitation. See http://www.exmormon.org/boards/honestboard/messages/2291.html
And what would that be? The housing bubble was caused largely by the government forcing lenders to make loans to those who would not normally qualify for a loan. This trend was started during the Carter administration and continued through the Bush, Clinton and Bush administrations. This is how we got "subprime" mortgages. The government used social engineering to try to put more people in homes of their own. Too much government intervention got us this big mess.
Carter (1977-1981), Bush(1989-1993), Clinton (1993-2001), and Bush (2001-2009)? What about Reagan (1981-1989)? Was the trend temporarily discontinued then?
We haven't seen that in North America in my lifetime, but we have seen it in Hong Kong, Singapore, and Dubai. -=Steve=-
Definitely a good read, although John Galt's soliloquy (something like 50 pages worth) is too long for my taste. You might want to start with The Fountainhead if you haven't read Rand before, as it's more approachable.
I agree, The Fountainhead and We the Living are much more readable than Atlas Shrugged. They are also a lot less preachy.