Donald Luskin’s spent years criticizing Krugman, not as much for Krugman’s economic accomplishments (Krugman’s a Nobel laureate) but for his subsequent politico-economic columns in the New York Times. Krugman is Luskin’s white whale, but that obsession isn’t as interesting to me as Luskin’s observation (toward the end of the video) that Atlas Shrugged is, principally, an attack on crony capitalism.
He’s right about Atlas Shrugged – it is precisely that sort of attack. We don’t live in a world of mere government planning, we live in a world of government planning directed toward politicians’ favored businesses, friends, and preferred means to their own advancement.
Pro-business is neither as efficient nor as conducive to prosperity as is a pro-market policy, but favoritism toward certain businesses is far more conducive to scheming office-holders’ and bureaucrats’ careerist ambitions.
From the description accompanying the video —
What you really have in Atlas Shrugged is an unholy alliance of corrupt crony capitalists and corrupt government.” says author Donald Luskin. “Now that isn’t a narrative that conservatives like to tell, [but] that ought to be a narrative libertarians like to tell.”
In his newest book, “I Am John Galt: Today’s Heroic Innovators Building the World and the Villainous Parasites Destroying It,” Luskin finds modern parallels to Ayn Rand’s characters. From Bill Gates to Paul Krugman, Luskin analyses the Randian heroes and villains of today and examines the impact of Rand’s ideas on America.
At FreedomFest 2011, Reason’s Matt Welch sat down with Luskin to talk about his book, his crusade against Paul Krugman and the resurgence of Ayn Rand.
Held each July in Las Vegas, FreedomFest is attended by around 2,000 libertarians and advocates of limited government. Reason.tv spoke with over two dozen speakers and attendees and will be releasing interviews over the coming weeks.
About 6:08 minutes. Shot by Zach Weissmueller and Jim Epstein and edited by Meredith Bragg.