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FEE: Ayn Rand Predicts its Intellectual Bankruptcy

Posted by dbhalling 7 years, 4 months ago to Economics
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FEE or the Foundation for Economic Education has proven to be intellectually bankrupt. For instance, their position against patents and Intellectual property shows that they do not understand property rights or rights generally. They also revere the work of the philosopher David Hume, who argued “cause and effect” does not exist, induction is just correlation, and that a rational ethics is not possible (the so-called is-ought problem). This means that Hume undermined reason, science and ethics. Despite this FEE thinks Hume is a great guy. FEE also promotes Matt Ridley who denigrates human achievement in science and engineering, calling Nobel Laurites in science and inventors frauds, for more click here.


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  • Posted by lrshultis 7 years, 4 months ago in reply to this comment.
    The Copenhagen interpretation of quantum mechanics is not how those proposed matter and energy things were predicted. They come from macroscopic physics which shows that the laws of gravity when applied give results which do not fit the observations in the case for the hypothesis that there is more matter than observable so some matter must not interact electromagnetically, so dark matter, and the Universe seems to be expanding in an accelerated fashion which would imply some form of new energy expanding space, thus dark energy, and the knowledge about electromagnetism and the force of gravity can be used to hypothesize objects which have overcome electromagnetic forces when a star has fused the supply of hydrogen and then helium to the point that there is not enough force to support the gravity of the star so that, if large enough, it will collapse to the point where the nuclear forces finally stop its collapse as a neutron star or even further to a quark-gluon substance, thus black holes are hypothesized and there is good evidence for their existences.
    The hand waving of Rand and Peikoff about modern physics and other philosophers is pathetic.
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  • Posted by $ WilliamShipley 7 years, 4 months ago in reply to this comment.
    You know, it's so sad that on the subject most dear to your heart, the one that you have the most experience in, your response to any disagreement is insult and name calling.

    You refuse to acknowledge independent invention which is the philosophical weak link in the property rights argument to the fruit of your own intellectual labor. Note, I am not saying simultaneous, simply independent.
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  • Posted by JohnConnor352 7 years, 4 months ago
    Yes, FEE says and believes some things that are dumb and illogical. But they continue to be one of the best and most prolific voices out there promoting (mostly) sound economic principles. I'd say they do more good than bad, which is not very common these days.
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  • -1
    Posted by $ Seer 7 years, 4 months ago in reply to this comment.
    How do YOU define a right, kh?

    I am saying "right" IS the object, not the right TO an object.

    She in no way contradicts me: a right to action, then is the "object" required to carry out that action.
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  • Posted by $ Seer 7 years, 4 months ago in reply to this comment.
    Leftist/Liberals have taken that "necessary object" to an extreme, wouldn't you agree? Homosexuals do not have the "right" to government sanctioned marriage; women do not have the "right" to choose to kill their unborn children. In those cases, "right" is not a praiseworthy object. Pot smokers do not have the "right" to legalized marijuana use.

    The reason they do not have those rights, is because those "rights" endanger others, or society at large.
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  • Posted by $ Seer 7 years, 4 months ago in reply to this comment.
    I was abstracting, as did the American founders. An "object" can be more than something physical or tangible, just as a "vehicle" can.
    I'm looking at a "right" as an achievable and praiseworthy goal. It is related to individualism, or the individual ability to attain "that which is necessary for a full life.,"
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  • Posted by $ Seer 7 years, 4 months ago in reply to this comment.
    There is one more thing, db, and that is that I can not yet give any more explanation of how to improve global trade relations than I have done so far.
    Only this; America will not be taking the leadership role in those improvements.
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  • Posted by $ Seer 7 years, 4 months ago in reply to this comment.
    Any so-called moral position is always unimpeachable by those holding it. But I am not, and have never, questioned the morality of capitalism, only that the practice does not always correlate with its theory. And haven't I, more than any other, been able to explain the morality of a capitalist economic system?

    And of course she couldn't talk about the science of economics as she had no training in it.

    Don't take this the wrong way, but I sometimes feel that Objectivists take everything Rand has said or written as Gospel truth.
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  • -1
    Posted by $ Seer 7 years, 4 months ago in reply to this comment.
    "Our" confusion, db, (and I do think there is more confusion on your side, than mine) results from the fact that in business and economics, more than in any other area of human endeavor, theory and practice are at odds.
    For example, the course title of the master's class I took in global macroeconomics was "International Finance", the professor explaining it was a "pragmatic approach to global macroeconomic theory". A very intelligent friend of mine told me that that had to be an oxymoron.

    I was referring to "intellectual capital", not intellectual capitalism, a phrase which seems meaningless to me.
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  • Posted by khalling 7 years, 4 months ago in reply to this comment.
    more on rights as not objects, from Rand: "“Bear in mind that the right to property is a right to action, like all the others: it is not the right to an object."
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  • Posted by ProfChuck 7 years, 4 months ago in reply to this comment.
    One thing I have learned as a scientist, "All theories are incomplete." To the extent that the Copenhagen interpretation is a theory that holds. When a theory suggests a particular outcome for an observation and the observation is consistent with the theory it can be said that the theory is strengthened. However, strengthening a theory is not the same as proof. Without realizing it Newton predicted black holes. His equation determining the escape velocity of a celestial body can be reformulated to the Schwarzchild equation defining the event horizon of a non rotating black hole. Does this mean that black holes exist? Not necessarily. It does provide a testable set of criteria that a black hole must meet to be considered a real phenomena. It is my suspicion that reality is more complex than any theory can possibly be.
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  • -1
    Posted by $ Seer 7 years, 4 months ago in reply to this comment.
    I only said that after my studies in insurance and economics, I realized that not all businessmen made sound business decisions, and that Rand believed they did, IF government "left them alone."
    Before we commence an argument, we should define terms. For instance, you probably have a different interpretation of what a "sound business decision" is, than I do.
    For example, running a business into the ground in order to either achieve rapid growth or perhaps "gut" the company, is not "sound". (Look up Billy Durant and the history of General Motors. Generally speaking shareholders, the actual owners of corporate property, should want to protect their rights, but rarely do. I would consider this a countervailing power to control by a directorate.)
    John D. Rockefeller's "business practices" were neither "sound" nor moral, and resulted in MORE government regulation, not less.
    Credit Mobilier of America, again, was neither "sound" nor moral.
    Bernie Madoff was not interested in playing a game; he was a crook, pure and simple.

    Can you give me a brief precis of your book, "Source of Economic Growth"?

    Then we can establish "rules of argument".
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  • Posted by khalling 7 years, 4 months ago in reply to this comment.
    I don't need "help" I do not understand the point of all you are saying but I would reinforce for you that natural rights are not "objects" but they must be recognized. Men are inherently "good." We do not pass laws or limit natural rights based on flawed psychological illnesses or physical illness. "goal seeking behavior." are you a praxeologist? Of course, Rand rejected Libertarianism and its foundations, which are not rooted in philosophy but merely a political structure. "Power" and seeking it refer to lessening of someone's rights which is not the foundation of capitalism. I'm seeing a lot of "original" sin in your comments.
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  • Posted by 7 years, 4 months ago in reply to this comment.
    You appear to be completely confused. Rand never talked about the science of economics only what economic system was moral and her position is unimpeachable and the only one consistent with the founding of the United States.

    Unfortunately, there are no schools or sciences of economics that are right or consistent with Objectivism. I have developed one. My book Source of Economic Growth lays the foundation and I have a series of blog posts under the tag of "intellectual capitalism" that explain other aspects.
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  • Posted by 7 years, 4 months ago in reply to this comment.
    I think you are getting some of your illusions wrong. The Copenhagen interpretation is an illusion purposely pushed for philosophical reasons. It has lead to more and more nonsense, such as black holes are everywhere, dark matter, dark energy and other shims to prop up this failed interpretation of physics.
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  • Posted by $ Thoritsu 7 years, 4 months ago in reply to this comment.
    I was thinking more like "You are not the same as you were before. You used to be much more muchier, but now it seems you've lost your muchiness."
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  • Posted by Seer 7 years, 4 months ago in reply to this comment.
    If one's knowledge of historical facts is based on his reading of Marx, I might wonder about his ability and courage to face truth head on.
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  • Posted by Seer 7 years, 4 months ago in reply to this comment.
    So how do the Knights Templar fit into that highly biased exegesis?
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  • -1
    Posted by $ Seer 7 years, 4 months ago in reply to this comment.
    There was a joke I came across while I was studying economics: How many conservative economists does it take to screw in a light bulb?
    Answer: None. They all stand around and wait for the Invisible Hand to do it.

    Don't get the idea I am a Keynesian economist from that post.

    Instead of my explaining again why I believe she felt all businessmen made sound business decisions, maybe you can tell me where she ever said otherwise.
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  • Posted by lrshultis 7 years, 4 months ago in reply to this comment.
    Classical physics is considered deterministic only to the extent that measurements are absolutely precise and for a system under analysis that all knowledge about the system is known. So it is only an ideal about how a system will evolve. As for the Universe itself, classically it cannot be predicted due to the lack of whether there is a gravitational aberration affect from gravitation propagating at the velocity of light. There is too much unknowable about the bodies within the Universe to even begin to classically determine much about the Universe.
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  • Posted by Dobrien 7 years, 4 months ago in reply to this comment.
    Hi Thoritsu,
    A quote from Alice in wonderland.
    “Now, here, you see, it takes all the running you can do, to keep in the same place. If you want to get somewhere else, you must run at least twice as fast as that!”
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