Vol.5, No. 1 . TheCenter for the Advancement of Obiectivism. Februarv,1990 INSTITUTE:THE FIRST FIVE YEARS On the eve of The ent,student-run groups begins with organ- but alsoto the businesscommunity and Institute'sfifth anniversary,its founders izationaladvice and, if necessary,financial variousprofessions. and contributorshave much to celebrate. helpin startinga club,Once a clubis estab- To keepcontributors informed, ARI Successesin both fundraisingand project lished,ARI loansvideotapes of Objectivist publishesa newsletterthree times a year, implementationhave enabledARI to speakersand provideslarge quantities of and IMPACT, an updateof Objectivist developfrom a smallone-man office in printedmaterials on Objectivismto help activities,six times a year. 1985into an establishedorganization with ciubspromote the philosophyin the aca- ARI developedthe revised edition of a staff of six and severalmajor ongoing demiccommunity. To date,ARI hasmade lntroductionto ObjectiuistEpistemology projectsto advanceObjectivism. The possible500 club-sponsored video presen- and will makeit availableto the philo- majorbattleground in thefight for rational tationsand provided125,000 pamphlets sophicprofession upon publication by NAL ideasis in the educationalinstitutions, andother printed matter for dissemination. in April of thisyear. Other academic pub- whereyoung minds are shaped; in keeping The Institutehas also helped fund and lishingincludes 'sforth- with itsprimary aim-to moveObjectivism organize105 campus talks and debates by comingbook, The BiologicalBasis of into the universities-educationalprojects Objectivistspeakers, with an average atten- TeleologicalConcepts, and future scholarly arethe heart of theInstitute's activities. danceof 100(mostly students) per event. booksand monographs on technicalissues EssayContest Throughthese efforts, thousands of stu- in . To date,over 10,000 high-school stu- dentshave been exposed to Objectivist Perhapsthe mostdramatic publish- dentshave entered ARI's essay contest on ideasand their application, ing projectthe Institute has undertaken so ,For detailson this In addition,the Institutehas subsi- far hasbeen the financing of a Polishtrans- highlysuccessful project, see page three. dizedmore than 500 students'tuition in lationof TheVirtue of Selfishnesswhich is CampusClubs nearly 100 Objectivisttaped lecture now availableto Polishcitizens; a Polish SinceObjectivist ideas are not cur- courses.ARI also sponsorscampus club translationof AtlasShruggedis in progress. rentlytaught in philosophycourses nor workshopsat Objectivistconferences and ARI is currentlyexploring ways to advance elsewherein thecurriculum, campus clubs othergatherings. Objectivismin EasternEurope, amidst the arethe primary means of raisingawareness Followingthe eventsin Tiananmen apparentcrumbling of thecommunist bloc. of Objectivismon collegecampuses and Squarelast spring ARI produceda poster AcademicTraining educatingstudents about Ayn Rand'sideas. for useby the clubs,utilizing the pho- TheInstitute's graduate training pro- Whenthe Institute began, there were only tographof the Chinesestudent standing grambegan in 1987,in recognitionof the six suchclubs. At present,there are 75 beforea lineof RedArmy tanks and adding needfor youngphilosophers to enterthe teachingprofession. Harry Binswanger led activeclubs and another25 eitherin the a ouote- from . start-upphase or temporarilyinactive, in Publishing a seminar,via telephoneconference calls, 28 U.S. statesand Canadianprovinces as The Institutehas producedvid- with four Objectivistgraduate students in well as Australia,Denmark, , and eotapesand publishedseveral essays by Ph.D.programs around the country,con- Norway. Ayn Randand in pamphlet ductingan in-depthstudy of lntroduction Instituteassistance to these independ- form,primarily for distributionto students to ObjectiuistEpistemology. One of the (Seelnstitute, P. 4) BINSWANGERADDRESSES PHILOSOPHICAL SOCIETY Harry Binswangerdelivered a paper wanger'sforthcoming book of the same frustration." entitled"The BiologicalBasis of Tele- title, which will be publishedby ARI. His Followingthe standardformat for ologicalConcepts," at the secondregular presentationconcluded with a sectionon professionalacademic meetings, the session meetingof theAyn RandSociety, an affili- theimplications for validatingman's life as includedprepared comments by Professor atedsociety of theAmerican Philosophical the standardof value,in which,quoting WilliamBechtel of GeorgiaState Univer- Association(APA). He was the featured liberallyfrom Ayn Rand's"The Obiectivist sity, after which Dr, Binswangergave a speakerat the two-hourmeeting, which Ethics,"he argued that "a livingorganism's brief response.Then the meetingwas washeld in Atlantaon December28,1989 struggleto maintainits life is what gives turnedover to a questionand answer in conjunctionwith the annualconvention rise to the wholephenomenon of means period,In attendancewere about thirty pro- of the EasternDivision of the APA. and ends,action to achievegoals, needs fessionalphilosophers. I The talk was basedon Dr. Bins- and their potential for satisfactionand

1 Institute Interview: RICHARD SALSMAN by Kathy Kroeger beganto think seriouslyabout banking, are interpretingL9th-century industrialists and I madea gradualbut consciousdeci- correctly-asheroes, not villains. Prag- sion to pursuea careerin economicsand matismstill prevailsin thebusiness world, banking.For me, bankingis like a vast so it is difficult to conveythe messagethat economiclaboratory, the one industry that principlesmatter, that morality is practical. dealswith all the otherindustries. But thegeneral attitude toward business is \t', Q: Whatare your professional goals? muchbetter now than in the sixtiesand '^. " :.t A: In additionto beinga successful seventies. banker,I want to increasemy activityas a Q: Wouldyou describe the deuelopment of spokesmanfor soundideas in moneyand theAssociation of ObjectiuistBusinessmen banking,I alreadygive mediainterviews (AOB)? RichardSalsman is a uicevresident at Citi- and campustalks on a regularbasis, and A: I wasencouraged by the formationof bank in New York City. He writesand I've written a book on centralversus free ARI in 1985,by businessmenand philoso- speakson monetaryissues and works to banking,to be publishedby the American phersworking together to advanceObjec- aduanceObiectiusm in the businesscom- Institutefor EconomicResearch, It's an out- tivism,With ARI's help, AOB had an munity as Presidentof the Associationol growt[of the MBA thesisI did at NYU, exploratorymeeting at TIS in 1987;later OblectiuistBusinessmen, Healso senJes on showinghow governmentundermines the discussionsresulted in an official organiza- ARI'sBoard of Adaisors, bankingsystem, why freebanking is more tion by 1989.We now haveten people in stable,and how to achievea laissez-faire variousindustries nationwide who serve on Q: How did your interestin Oblectiaism systembased on the gold standard. our ExecutiveCommittee and set strategy, euolueT Q: DoesObiectiuism help in your work? anda membershipof about125, for whom A: I heardfree-market, limited-govern- A: Yes,definitely, As a lenderI mustbe we publisha quarterlynewsletter. Some mentviews at home,and grewup with a extremelyrational when I conductresearch memberswrite OpEd articles and appear on positiveimage of businessand a respectfor andmake decisions about which companies televisionand radio, Our planis two-foldr ideas.In collegeI read my parents'copyof shouldreceive loans. There is a massof to introduceand promoteObjectivism in :The Unknownldeal--they had informationand detail, a tremendouscon- thebusiness community, and to encourage readsome of Ayn Rand'sbooks but had not textto absorbin identifyingthe industries the businesscornmunity to financethe exploredObjectivism further, I expecteda that are rising and falling, the companies spreadof ,We try to identify book abouthow businessesoperate and that do well by design,not by chance. businessfigures who may be receptive, who how the Americaneconomic system Also,lending decisions aren't made in isola- mayadvocate procapitalist positions or be worked. That capitalismmight be an tion; appealingto facts--notwishes or unjustlycriticized for their virtues,Our ","an ideology,interested me, I found needs-getsa loan approved in thebank, as approachis personalcontact or a letter her argumentsfascinating, especially her well as repaid.Overall, Objectivism pro- with Obiectivistliterature enclosed, always critiqueof conservatism.I had known free videsa consistent,integrated framework including"The Meaning of Money"pam- enterpriseas a mix of altruismand self- for understandingmy work andmy indus- phlet. Primarily,we put the messageof interest,of charityand money-making, and try andtheir role in the economy.And it Objectivistintellectuals in theirhands. We I couldn'tunderstand why the Republicans saysto enjoymy successguilt-free, tell themthat what they're doing is moral, wereso ineffectivein opposingthe welfare Thereare frustrations,however, Some that they shouldfeel proud of themselves state.Ayn Randvalidated a view of cap- bankersaren't rational in theirresearch and and their achievements,and that they italismthat I had acceptedimplicitly but lendingpractices. Government intervention shouldconsider a moral defenseto fight neverformulated explicitly. I was also contributesto thisproblem, promoting and their attackers.Progress is slow, but we intriguedby thefact that shewrote about protectingirrational practices. Rationality haveto bepatient and persistent. The sup- economicsand business issues both intellec- oftengoes out thewindow as government- port of only a few can makea big dif- tually andpassionately; I had thought that inducedinflations and "booms"whip up a ference. reasonand emotionwere opposed.Over frenzyof lending,and bankersare pres- Q: Yourpositiue attitude is inspiring. How thenext three years, I readall of herbooks, suredto generateimmediate business. It do you sustainit? Q: How did your study of Objectiuism provesunsound in the "bust," yet the A: By focusingon values.When I first affectyour careergoals? failuresget bailed out. Also, few bankers studiedObjectivism, I thought,"This is a A: Mostly, it mademe more seriousand know how moneyand credit really operate greatphilosophy, great things are possi- purposefulabout them. In collegeI was andhow the government sabotages prudent ble." ThenI lookedaround and saw a interestedin pursuinglaw andpossibly pol- bankingprinciples. Most don't understand world considerablyless inspiring than Ayn itics.Reading Ayn Randmade me want to bankingin its historicalcontext. Rand'svision. I didn'twant to shrinkinto readand study evenmore, becauseideas Q: Wouldyou commenton the current cynicismand malevolence,nor, con- matteredto memore than ever, I wasvery uiewof money-makingin our cultureT versely,charge ahead with blind optimism. impressedwith Francisco's"money" speech A: I think receptivityto theright ideashas Objectivismteaches that evil is impotent in AtlasShrugged, with the argumentthat grownconsiderably in the lastdecade. For withoutthe sanctionof thevaluers-so it's money-makingis a virtue and that money example,there is now a greaterrespect for importantto me to createvalues and seek is the barometerof a culture'sdirection. I ,and businesshistorians out valuers.In AOB, for instance,we waste (9eeSalsman, 4) 2 P. BEHIND THE SCENES:THE ESSAYCONTEST

Sinceit beganin 1986,the Foun- andwe hire part-time help to processall the weretwenty-nine) are then sentto Harry tainheadessay contest has become one of requestsfor contestinformation and Binswanger,who choosesthe sixteenwin- theInstitute's most effective projects, stim- "Teachers'Guides."The first essaysbegin ning essays.This final stageof ludging ulating a wealthof enthusiasmfrom stu- to arrivein December.Each essay is logged takesaboqt threedays. Dr. Binswanger dentsand teachers. Many ARI contributors andgiven an identificationnumber. In the reportsthat he spendsthe first two days have expressedinterest in knowing more winterand springthe numberof incoming readingthrough all the finalists'papers abouthow we promotethe competition essaysgrows from oneor two per weekto witha skepticaleye, making marginal com- andchoose the winners, hundredsper day; we receive80Vo of the mentsand giving each one a scorebetween Publicizingthe Contest essaysduring the last week before the April zeroand ten, in half-pointincrements. Our work beginslate each summer, 15deadline. Afterreading six or sevenessays, he recon- whenwe finalize the essay questions for the sidersthe scoreshe gavethe first ones, comingyear's contest and print the infor- checkinghis initial decisions to ensurecon- mationflyer. During the fall, we mail sistency.He makesany necessaryadjust- nearly70,000 flyers and coverletters, to mentsand continuesuntil all the essays everypublic and privatehigh schoolin havebeen graded. After rankingthe essays North Americaas well as to American accordingto their numbergrades, he then schoolsoverseas and thousandsof edu- undertakesthe difficult Drocess of evaluat- ialori, students,and other individuals. The ing the borderlinecar.r. By the time he mailingsare targetedto differentsegments finishes,he will haveread some of these in theeducational community, e.g., English essayshalf a dozentimes and added more departments,Advanced Placement and marginalcomments each time. As soonas HonorsEnglish teachers, philosophy teach- thewinning essays have been selected, we ers, psychologyteachers, gifted-student telephonethe winnersand their schools teachers,scholarship advisors, and school with the resultsso that they can be districtsupervisors. In addition,each year announcedbefore graduation. A few days we distribute-onrequest from teachers- Andy Bemsteinat the NCTEbooth. later,we sendpress releases to newspapers over 3,000copies of the "The Teacher's in the winners'communities and issue Guideto TheFountainhead." fudgingthe Essays checksfor the$15,000 in prizemoney to the As the academicyear progresses, we After the deadline,we sendall the sixteenwinners. design,produce, and place ads for thecon- essays(an average of 2,400per year)to a Post-contestFollow-up test in professionalperiodicals such as nationaltesting service for the first round After theannouncement of the win- Englishlournal, EducationWeek, and of grading,The testingservice uses high- ners,we mail a follow-upletter to every Guideaost,aswell asassorted financial-aid schoolEnglish teachers to gradethe essays entrant.We send special letters to thesemi- publications,Last fall we sponsoreda dis- for literaryquality (not philosophiccon- finalistsand finalists,and also to their play booth at the NationalCouncil of tent),giving marksfor style,coherence, teachers,hoping to encouragecontinued Teachersof Englishconference, attended andcorrectness of grammar,punctuation, participation.We reprint the winning essay by thousandsof teachersfrom aroundthe andspelling. Each essay receives a number in our fall newsletter,along with an article country.Dr, AndrewBernstein hosted the gradebetween one and five; all essaysscor- aboutthat year's contest and winners, and booth, distributinginformation and ingfour or fiveare read again, by a differ- wesend copies of thenewsletter to entrants "Teacher'sGuides" (written by Dr. Bern- ent grader.Only thosewith a combined on request. stein)and answeringquestions about The scoreof nineor higher,usually about 8Vo In 1989,for the first time, we Fountainhead,Ayn Rand'sideas, and the of thetotal, become semi-finalists. Alljudg- encloseda returnpostcard in thestudents' contest. ing is anonymous--ateach stage, the gra- mailinginviting them to askARI for more We also work with Objectivist dersare unawareof the identitiesof the informationabout Objectivism, The 175 groupsaround the country,helping to essaywriters. interestedstudents who responded(7.5V0 organizeregional tie-ins to the national In May, our panelof aboutfifteen of the total)received a packetcontaining: contest,Community groups promote the Objectivistteachers and writers,armed (1) "lntroducingObjectivism," a one-page nationalcontest heavily in their areas, with copiesof previouswinning essays and flyerpublished by ARI; (2)"An Objectivist offeringadded incentive for studentsby ourlists of standardsand guidelines, grades Bibliography,"also published by ARI; (3)a collectingcontributions from their mem- thesemi-finalists'papers to determine who copy of "Playboy'sInterview with Ayn bersfor extraprizes. We supplycontest thefinalists willbe. Each essay is graded by Rand"; (4) informationabout Leonard flyers, "Teachers'Guides," and other two graders,each of whomassigns a letter Peikoff'staped lecture courses on Objec- printedmaterials as needed.In 1989there grade.An essaymust receive at leastone tivism; (5) an Institutebrochure. Each were ten regionalcontests awarding an "A" to becomea finalist.Members of the packetalso contained a coverletter from additional$Z,fOO tn prizesto 26 students. panelreport that gradingthe essaysis a CampusClub Coordinator Kathy Kroeger, Theresults of all thepreparation and difficult but rewardingprocess, as they respondingto the students'questions and promotionbecome evident during the fall, read and re-readeach essay, rank them, commentsand providingthem with infor- wheninquiries from teachersand students andthen read again. mationabout college Objectivist clubs and overwhelmour mail and telephonelines, The finalists'papers (in 1989there studentcontacts in their ut"(t)n *ror, ,. q) 3 (lnstitute,continued from p. 1) seminarmembers completed her degree last eventshave included a screeningol Wethe read anythingby Ayn Randprior to the yearand is now teachingat a majoruniver- Liz:inginl988and two banquet/auctionsin contest,and anecdotalevidence indicates sity.The same four youngscholars are cur- 1986and 1987featuring memorabilia from thatmany more students read the book but rentlyengaged in anotherseminar with Dr. Ayn Rand'sestate; another such auction is did not enterthe contest.Many entrants Binswangercovering all aspectsof philo- beingconsidered. havegone on to startor join campusObjec- sophicalwriting, TheInstitute had a recordyear on all tivist clubsin college,and some,such as ARI also awardsscholarships to countsin 1989,due to the generosityof its JonGordon at Yaleand Andrew Hazlett at Objectivistconferences to studentsmajor- contributorsand the effortsof the many Wesleyan,have earned ARI scholarshipsto ing in philosophyand relatedfields, offer- peopleinvolved in its projects.As a new Objectivistconferences. ing them an alternativeto what they are decadebegins, we look forwardto contin- Contributorsupport has made it pos- beingtaught in the universities. uedgrowth and success,to the celebration siblefor us to reachthousands of students ProfessionalGroups of the goldenanniversary of The Foun- whiletheir minds are open to newideas. We ARI hasassisted in the creationand tainheadinl993,and to a newcentury in look forward to reachingthousands more developmentof severalindependent organ- whichrational ideas and freedom will pre- eachyear, and to the timewhen The Foun- izationsof professionalsworking to bring vail, Thetask ahead is difficult,but thanks tainheadwill be part of everyhigh-school Ayn Rand'sideas to their colleaguesand to contributorsupport, we have the student'seducation. halt the growth of governmentcontrols. momentumand resources to meetthe chal- Theprofessions represented so far arebusi- lenge. I (Salsman, ness,education, health-care, and larar. continuedfrom p. 2) GeneralPublic our timeand passion if we only fight the TheInstitute has placed two full-page vocalmaligners of capitalism.Our energies (Essay, p, philosophicadvertisements of Leonard continuedfrom 3) arebetter spent finding the few principled, Peikoff's"Medicine: The Death of a Profes- Plansfor theFuture intelligent,often quiet creators who make sion,"as well as an adin Barron'soffering a Weare currently surveying teachers valuespossible. We needto supportthem, "Capitalist'sSelf-Defense Kit." Responsesandcounselors and conducting detailed and ask themto supportus. This value- to theseads have totalled 2,000. ARI has researchon expandingthe contest,Plans centeredactivism is a key to my moti- alsohad OpEdarticles published in news- for thefuture center around more extensive vation.I want to fight for greatness,not papersaround the country,on suchtopics publicity,more prizes, and/or larger tanglewith theunworthy, When I findit, I asracism on collegecampuses, California's awards.We are also considering the pos- feel as if I've discovereda gold nugget. insuranceproposal, and animal"rights" sibilityof an Antherccontest for high- Then I'm in that world Ayn Rand envi- (whichled to debateson radio and televi- schoolfreshmen and sophomores. sioned. sion). Todate, nearly L0,000 students from For more informationon AOB contact: Theseand other projectshave been all overthe and Canada, as Associationof ObiectiuistBusinessmen, fundedby contributionsfrom individuals well assome foreign countries, have read P.O. Box 1285,Ridgewood, NL 07451.J who valueARI's goalsand find them theThe Fountainhead and submitted their worthy of investment.Special fundraising essaysto thecontest; 9010 of themhad not

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