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Ayn Rand versus Adam Smith.

This article compares Ayn Rand's trader principle with Adam Smith's invisible hand principle. Rand's defense of laissez-faire capitalism is often confused with Smith's defense of the market economy. White argues that Rand and Smith do not share the same ideas on the importance of self-interest or su...

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Published in:Journal of Ayn Rand Studies (Journal of Ayn Rand Studies Foundation) Vol. 7; no. 1; pp. 141 - 181
Main Author: White, Robert
Format: Article
Published: Journal of Ayn Rand Studies Foundation Fall2005
Subjects:
Rand, Ayn, 1905-1982
Smith, Adam, 1723-1790
Capitalism
Economic structure
Government policy
Self-interest
Antitrust investigations
Microsoft Corp.
Action & defense cases
Online Access:View this record in EBSCOhost
Summary:This article compares Ayn Rand's trader principle with Adam Smith's invisible hand principle. Rand's defense of laissez-faire capitalism is often confused with Smith's defense of the market economy. White argues that Rand and Smith do not share the same ideas on the importance of self-interest or support the same sort of minimalist government, and that these are important and substantial differences between the two thinkers. He examines the antitrust case against Microsoft as one example of the importance of these differences.