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Volume 13, Number 12, December 2007 Looking Back at a Landmark Year

his was a year full of milestones for the During the conference, Dr. , percent increase over the previous year—and TAyn Rand Institute: from the fiftieth anni- ARI’s executive director, announced that ARI received 6,702 entries—a versary of the publication of will open an office in Washington, D.C., in 9 percent increase. The Atlas Shrugged essay to record-breaking attendance at Objectivist 2008. The as-yet-unnamed center will work to contest received 1,416 submissions, the second- Summer Conference 2007, to an extensive list increase the exposure of Objectivist ideas to the largest number in the contest’s history and a 25 of new Institute initiatives. As we continue our media, the public, and among other think tanks percent increase over the previous year. efforts to promote ’s works and ideas, and policy institutes. In order to build on the success of our Impact would like to take a look back at this To celebrate the anniversary of Atlas free books program and essay contests, ARI landmark year. Shrugged, ARI engaged in a number of activi- launched two new Web sites: one for high At Objectivist Summer Conference 2007, ties, including working with the publisher to school teachers (www.aynrandeducation.com) more than 500 people joined us in Telluride, Colo- create an anniversary banner for the cover of the and one for high school and college students rado, for a week of talks and activities, including paperback, providing Atlas-themed posters for (www.aynrandnovels.com). These sites feature a six path-breaking lectures by Dr. teachers and bookmarks for essay contests, as growing amount of free content, including video on his book-in-progress, “The DIM Hypothesis.” well as writing a series of op-eds on the novel, courses by ARI senior fellow Dr. Onkar Ghate its ideas and its influence. on Atlas Shrugged and by professor Sales of Atlas Shrugged and Ayn Rand’s Dr. on The Fountainhead. other novels, reached extraordinary numbers this The Objectivist Academic Center, ARI’s year. The gross sales of the paperback editions program for educating future intellectuals, saw of Ayn Rand’s three novels, Atlas Shrugged, another successful year. The OAC undergradu- The Fountainhead, We the Living and the ate program accepted fifty new students into novelette, Anthem, in 2006 were 702,163—an its freshman class, its maximum capacity. At all-time high, up 2 percent from 2005. If ARI’s Objectivist Summer Conference 2007 the OAC own orders of books in each year are excluded, had its first graduation ceremony, recognizing trade sales otherwise increased by 8 percent the first three graduating classes of the under- from 2005. Paperback sales of Atlas Shrugged grad program. To help promote the OAC, a new also increased by 2 percent to 127,352. If ARI Web site, www.objectivistacademiccenter.org, orders are excluded from both years, trade sales was established. Nearly 150 students currently increased by 10 percent over the previous year. are enrolled in the OAC undergraduate and Yaron Brook Gains Annual sales of Atlas Shrugged, for example, graduate programs. are higher than when the first hardcover or The Institute held more than forty speak- Regular Slot on Fox paperback editions were published. In recent ing events on college campuses, garnering a years, each of three of the four novels has sold total attendance of more than three thousand. Business Program more than 100,000 copies a year—higher num- This included a panel discussion at UCLA on bers than at any point in Ayn Rand’s lifetime. the threat of Islamic totalitarianism, which r. Yaron Brook, ARI’s executive director, ARI mounted a library exhibit on the ideas of featured Dr. Brook and renowned Middle East now has a regular slot on the new Fox D Atlas Shrugged at the Frances Howard Goldwyn experts Drs. Daniel Pipes and Wafa Sultan. The Business Network (FBN, or Fox Business), Hollywood Regional Library, which was viewed event drew a capacity crowd of about 450, with which is distinct from the long-running Fox by thousands of library patrons. The exhibit fea- another hundred who had to be turned away at News Channel. tured four talks by ARI intellectuals, on capital- the door. Dr. Brook will be interviewed every week ism, ethics, foreign policy and environmentalism, on Wednesdays on the show Fox Business continued on page 2 as well as items from the Ayn Rand Archives, a News. This is a three-hour show, from 2 to 5 pm, Eastern time, and Dr. Brook will usually special collection of the Institute. be on during the second hour, 3 to 4 pm, This was also the first year ARI made Eastern (12 noon to 1 pm, Pacific), but, at the available free copies of Atlas Shrugged to high producer’s discretion, he could appear at any school teachers under our Free Books to Teach- other time in this three-hour period. ers program. Thanks to funding made possible As of this writing, Dr. Brook has appeared by the Atlas Shrugged Initiative, ARI was able eleven times on topics that include CEO pay, to ship more than 25,500 copies of the novel to the Federal Reserve and the subprime mortgage teachers across the country. In total, ARI has crisis. Dr. Onkar Ghate, ARI senior fellow, filled distributed more than 317,500 copies of Atlas in for Dr. Brook, appearing on November 7. Shrugged, Anthem and The Fountainhead to Fox is still negotiating to have FBN carried high school teachers during the 2006–07 school by some cable companies. So it is possible that year. This brings the total number of books dis- your local cable company may not yet carry this tributed to date to more than 800,000. Our aim new channel. Please check your local listings. is to reach more than one million books distrib- Visitors to our Web page, www.aynrand.org, uted by the end of the 2007–08 school year. will soon be able to watch clips of Dr. Brook’s A record number of students entered ARI’s appearances. annual Anthem and Fountainhead essay contests in 2007. Anthem garnered 14,106 entries—a 24 OAC Scholarship Winners Announced

t is with great pleasure that I announce the Iwinners of the 2006 Bloomfield Memorial Fund Scholarships for students in the Objectiv- ist Academic Center. These awards are given to the top student in each OAC undergraduate class (by year.) For 2006, the winners are:

a selfish action. “The proper method of judg- Year 1: Sascha Settegast Charity ing when or whether one should help another Year 2: Each month Impact suggests readings and other person,” writes Miss Rand, “is by reference Year 3: Ole Martin Moen resources for fans of Ayn Rand’s fiction who wish to one’s own rational self-interest and one’s Year 4: Alex Silverman to learn more about her philosophy, . own hierarchy of values: the time, money or effort one gives or the risk one takes should Each winner received a be proportionate to the value of the person in check for $1,000. pponents of often ask what will relation to one’s own happiness.” (“The Ethics The Bloomfield Ohappen to the poor if social welfare pro- of Emergencies” in The Virtue of Selfishness) Memorial Fund is a grams are abolished. To this Ayn Rand answers, Since other people can be a value to a rational Sascha Settegast special fund dedicated to “The small minority of adults who are unable person, helping others can be selfish. supporting OAC students. rather than unwilling to work, have to rely on Thus Ayn Rand did not oppose charity—she Charles Bloomfield, who voluntary charity; misfortune is not a claim to opposed self-sacrificial charity and altruism’s passed away in 2004, slave labor; there is no such thing as the right attempt to make charity a dominant issue in eth- wanted to financially to consume, control, and destroy those without ics. “My views on charity are very simple. I do support promising OAC whom one would be unable to survive.” (“What not consider it a major virtue and, above all, I students because of their Is Capitalism?” in Capitalism: The Unknown do not consider it a moral duty. There is nothing commitment to studying Ideal) But this answer inevitably raises a further wrong in helping other people, if and when they Objectivism. Thanks to this question: Isn’t charity altruistic? are worthy of the help and you can afford to help fund, we will continue to This question is often put more broadly: them. I regard charity as a marginal issue. What Don Watkins offer scholarships to the Doesn’t egoism prohibit helping others? Ayn Rand I am fighting is the idea that charity is a moral top students in each OAC rejected such an account of egoism: “The fact that duty and a primary virtue. (“Playboy’s Interview undergraduate class. This a man has no claim on others (i.e., that it is not with Ayn Rand”) year’s winners will be their moral duty to help him and that he cannot For further reading on this topic (in addition announced next fall. demand their help as his right) does not preclude to the works already cited), see “The ‘Conflicts’ The OAC, ARI’s or prohibit good will among men and does not of Men’s Interests” in The Virtue of Selfishness. program for the study of make it immoral to offer or to accept voluntary, Ayn Rand also addresses the issue of charity in Objectivism, provides stu- non-sacrificial assistance.” (“The Question of a recorded interview, “Selfishness as a Virtue,” dents with an unparalleled Scholarships” in The Voice of Reason) available for free on the Institute’s Web site, www. Ole Martin Moen opportunity: to engage in a On Ayn Rand’s view helping others, per se, aynrand.org. All of the items cited in this column systematic study of Objec- is a morally neutral act. The question morality can be purchased from the Ayn Rand Bookstore. tivism under the guidance asks is not whether an action helps others, but To order, please visit www.aynrandbookstore.com of experts in Ayn Rand’s whether it is to one’s own interest. If so, it is or call 1-800-729-6149. philosophy. In turn, our students demonstrate an extraordinary commitment to the program, investing Objectivism in Academia significant time and effort in their studies, while at the ARI Co-Funds and Participates in Workshop Alex Silverman same time pursuing univer- “Objectivism in Academia: Objectivism and Contemporary Philosophy” sity degrees or their careers. For students who excel in this challenging n September seventeen Objectivist philosophers were, enrolled in the Objectivist Academic Center. program, these rewards are well-deserved. and philosophy graduate students came together At the close of the conference, Ms. Debi I Once again, congratulations to this year’s at the University of Pittsburgh for a workshop Ghate, ARI’s vice president of academic pro- winners. titled “Objectivism in Academia: Objectivism and grams, presented Dr. Gotthelf with a special gift Contemporary Philosophy.” The workshop was in recognition of his lifetime effort at promoting —Debi Ghate codirected by Dr. Onkar Ghate, ARI senior fellow, Objectivism in academia, including his mentoring Vice President, Academic Programs and Dr. , a of OAC students. visiting professor at the The gift was a framed To learn more about the OAC, please visit our University of Pittsburgh copy of a handwritten Web site at www.objectivistacademiccenter.org. under the university’s manuscript page by

Fellowship for the Study Ayn Rand of a scene of Objectivism. from Atlas Shrugged that The purpose of the has personal significance Looking Back at a Landmark Year, conference was to discuss for Dr. Gotthelf. continued from page 1 career development Included with the issues and opportuni- gift was a letter from This year ARI speakers appeared sixteen times ties for Objectivism and Dr. Yaron Brook, ARI’s on national television, including an appearance by Objectivists in academic executive director, which Dr. Ghate on the CBS Evening News with Katie philosophy, with special Ms. Debi Ghate hands Dr. Allan Gotthelf a framed copy of a handwritten recognized Dr. Gotthelf Couric. Dr. Brook gained a regular spot on the new sessions on ethics, publish- manuscript page by Ayn Rand of a scene from Atlas Shrugged that has for his role in advancing personal significance for Dr. Gotthelf. Fox Business Network (see article on page 1). In ing issues, epistemology Objectivism in academia, addition, ARI op-eds were published more than and the history of philosophy. The aim was to and for his mentoring of OAC students. five hundred times, reaching a total print and Web identify areas within each field where there is According to Ms. Ghate, “Dr. Gotthelf has circulation of 14,700,000. This includes appear- potential to have some influence on non-Objec- always made himself available to students when ances in papers such as the Wall Street Journal, tivist scholars and to expand the participants’ they have questions, from applying to graduate USA Today and the San Francisco Chronicle. ARI’s understanding of the means by which Objectivists school to how to handle a particular situation letters to the editor appeared in leading newspapers can have greater impact on academic philosophy. at their school—always with tremendous such as the New York Times, Washington Post and Session leaders were: Dr. Ghate, Dr. Gotthelf, benevolence. Having spent three days discussing Los Angeles Times, reaching a record number of Dr. Jim Lennox, Dr. Robert Mayhew, Mr. Jason Objectivism in academia, offering students readers—more than twenty-seven million. Rheins and Mr. Greg Salmieri. Drs. guidance on how to pursue their careers, it was ARI writers also contributed a number of lon- and Darryl Wright, who participated by phone, a particularly appropriate occasion to honor ger essays to The Objective Standard: Dr. Brook helped lead a session. Dr. Gotthelf for his achievements.” and Mr. ’s “The ‘Forward Strategy’ The University of Pittsburgh Fellowship for the This workshop marked the first time a confer- for Failure”; Dr. Brook and Mr. Alex Epstein’s Study of Objectivism funded the participation of ence brought together Objectivist scholars and “Neoconservative Foreign Policy: An Autopsy”; the session leaders. ARI provided an honorarium to students in a single field to discuss opportunities and Dr. Brook’s “The Morality of Moneylending: the Pittsburgh locals and also provided scholarships for Objectivists in academia. We plan to do similar A Short History.” for the remaining student participants, who are, or workshops in other fields. continued on page 3

2 New Memorial Fund Established 2007 at a Glance Public and Professional Outreach hese highlights indicate not only ARI’s accom- • Objectivist Summer Conference 2007 was the plishments, but also the range of our projects. largest summer conference ever, drawing more In cooperation with T Unless otherwise stated, the data cited here and in than 500 attendees. The conference featured a the Institute, Roberta the accompanying story refer to ARI’s fiscal year, series of six lectures by Dr. Leonard Peikoff on Zall has endowed which runs from October through September. his book-in-progress, “The DIM Hypothesis.” the James G. Comer Memorial Scholarship Fund, in memory of her late husband. Like High Schools and Colleges • ARI announced the creation of an East Coast ARI’s other memorial funds, the Comer office, to open in Washington, D.C., in 2008. Fund will support scholarships and grants to • About 317,500 copies of Ayn Rand’s novels Objectivist students and scholars. were sent to high schools during the 2006–07 • ARI created a special exhibit at the Frances Mr. Comer grew up in rural North school year as part of our Free Books to Teach- Howard Goldwyn Hollywood Regional Carolina. An avid reader, he first encountered ers program. This included 25,500 copies of Library to celebrate the fiftieth anniversary Ayn Rand’s writings at age twenty during his Atlas Shrugged. The total number of books of the publication of Atlas Shrugged. The service in the Navy. Following his sixteen- distributed to date is more than 800,000! exhibit included four lectures by ARI staff year military career, he settled in northern intellectuals. California, where he met Ms. Zall in 1975, and • A record number of students entered ARI’s enjoyed his work in public relations until his annual Anthem and Fountainhead essay • Seven lectures were presented as part of death in 2006. Ms. Zall commented: “Jim was contests. Anthem garnered 14,106 entries—a ARI Lecture Series 2007 in Orange County, a huge fan of Ayn Rand’s philosophy. He could 24 percent increase over last year—and The California. practically quote her chapter and verse. I know Fountainhead received 6,702 entries—a 9 he would be pleased that scholarships to young percent increase over last year. The Atlas • ARI made available on the Web, for free, Objectivist intellectuals will be awarded in his Shrugged essay contest received 1,416 sub- a collection of Ayn Rand audio and video name by the Institute.” missions, the second-largest number in the recordings. In addition, video recordings contest’s history and a 25 percent increase of the complete collection of the ARI over last year. Lecture Series were made available on the Registered User section of our Web site, • ARI sponsored forty campus speaking events, www.aynrand.org. drawing a total attendance of 3,360. Among those events was a panel discussion at UCLA • ARI launched the Ayn Rand Lexicon Web with Drs. Yaron Brook, Daniel Pipes and Wafa site at www.aynrandlexicon.com, which Sultan on the threat of Islamic totalitarianism, contains many passages from Ayn Rand’s which drew a capacity crowd of over 450. own writings, organized by topic.

• ARI launched two new Web sites: one for students (www.aynrandnovels.com) Media and one for high school teachers (www .aynrandeducation.com). • ARI speakers were interviewed on national Above left: Mr. and Mrs. Comer [Ms. Roberta Zall] television sixteen times. Above right: Jim Comer at his favorite pastime: reading. The Objectivist Academic Center • Dr. Brook was given a regular spot on the Fox Contributions to the Comer Fund and/or to Business Network. ARI’s other memorial funds are welcome at any • The OAC undergraduate program celebrated time. The other funds open for contributions are: its sixth anniversary. • ARI op-eds were published more than five the Burton E. Berger Memorial Scholarship hundred times in print and Web media; Fund, established by Mr. Berger’s wife, Leora • The OAC held its first-ever graduation cer- the total print and Web circulation was Berger; the George W. Brumley III Memorial emony to honor students who have completed 14,700,000. Papers included USA Today, Scholarship Fund, established by Mr. the OAC undergraduate program. Orange County Register, San Francisco Brumley’s friend and business partner, David Chronicle, Las Vegas Review-Journal, Carr; the Anne Daw Memorial Scholarship • Two OAC courses continue to be offered for Tampa Tribune and the Chicago Sun-Times. Fund, established by Mrs. Daw’s husband, college credit through Chapman University. Stuart Daw; the Stephen H. Goldman MD • ARI letters to the editor saw a record- Memorial Scholarship Fund, established by • The OAC now has more than 150 students breaking year, achieving the greatest Dr. Goldman’s wife, Marilyn Goldman; and the enrolled in our undergraduate and graduate number of hits in major newspapers (forty- Terry Radow Memorial Scholarship Fund, programs, the largest number ever. eight) and the largest print circulation established by Mrs. Radow’s husband, Steven (twenty-seven million) in ARI’s history. Radow. For more information, please contact • The OAC launched a new Web site, Among the largest papers and magazines Gift & Estate Planning Manager Kathy Cross at www.objectivistacademiccenter.org that published our letters were the New York 310-876-1633 or [email protected]. Times, Newsweek, USA Today, Wall Street • The OAC began releasing promotional You- Journal, Washington Post, New York Post, Tube videos, the first featuring selections from Philadelphia Inquirer, Chicago Tribune, continued from page 2 Dr. Onkar Ghate’s talk “Ayn Rand’s Ideas—an Los Angeles Times, International Herald Introduction.” Tribune, The Independent (UK) and the In an effort to increase the presence of Financial Times (UK). Objectivist ideas on the Web, ARI has made available, for free, to registered users of our Web Scholarship and Academia site, nearly all Ayn Rand recordings, including Publishing • ARI cosponsored an academic workshop titled the entire series of her Ford Hall Forum talks, “Objectivism in Academia: Objectivism and as well as video recordings of the complete ARI • Essays on Ayn Rand’s “The Fountainhead,” Contemporary Philosophy” at the University Lecture Series. We also launched a new Web site, edited by Dr. Robert Mayhew, contains essays of Pittsburgh. www.aynrandlexicon.com, which contains the by ARI’s Mr. , Dr. Onkar Ghate entire text of The Ayn Rand Lexicon, a “mini- and Mr. Richard E. Ralston. • ARI cosponsored the Clemson Institute for the encyclopedia” of Objectivism (compiled and Study of Capitalism’s second annual confer- edited by Dr. ), containing • A paperback edition of Dr. Tara Smith’s lat- ence for BB&T professors. Ayn Rand’s own statements on more than four est book, Ayn Rand’s Normative Ethics: The hundred topics in philosophy, economics, psy- Virtuous Egoist, published by the prestigious • ARI intellectuals taught at the Clemson Insti- chology and history, making it the largest collec- Cambridge University Press, was released. tute for the Study of Capitalism’s first student tion of Ayn Rand’s writings available on the Web. ARI provided Dr. Smith with a grant to sup- conference. These activities were made possible thanks port the writing of the book. to the generous contributions of our donors, who • ARI representatives appeared at a number of helped us reach a record level of funding this • ARI writers contributed three articles to The academic conferences, such as the American year, with more than $7.8 million in contributions Objective Standard, a journal of culture and Philosophical Association, Modern Language (including Ayn Rand Bookstore and Objectivist politics written from an Objectivist perspective. Association and the Association of Private Conferences revenue). The Enterprise Education. would like to thank our donors for their support as we embark on another successful year.

3 Happy Holidays from the Staff at the Ayn Rand Institute

Sitting, left to right: Anu Seppala, Julie Ferguson, Onkar Ghate, Yaron Brook, Debi Ghate, Mark Chapman Impact is published monthly by the Ayn Rand® Institute (ARI) and is Standing, left to right: Don Watkins, Matt Ludin, Thomas A. Bowden, Donna Montrezza, Larry Benson, Elan Journo, Meg Sullivan, Chris Elsee, complimentary to current donors who contribute $35 or more per year. Marilee Dragsdahl, Keith Lockitch, Kara Devar, Kurt Kramer, Arthur Lechtholtz-Zey, Rachel Knapp, Steven Dougherty, David Arceneaux, Kathy Cross, For information on how you can support ARI and to learn about David Gulbraa, Bryan Olive, Stacy Smith, Simon Federman, David Antonacci our projects, please visit our Web site: www.aynrand.org. Atlantis ® Absent: Shawn Banks, Jeff Britting, Eric Brunner, Alex Epstein, David Holcberg, Rebecca Knapp, Duane Knight, Richard E. Ralston, Willie Shultz Legacy , the Institute’s planned giving program, and related indicia are registered trademarks. The Ayn Rand Archives is a special collection of the Ayn Rand Institute. Objectivist Conferences (OCON) and the Ayn Rand Bookstore are owned by Second Renaissance, Inc., which is operated by the Ayn Rand Institute. Second Renaissance, Inc., and the Ayn Rand Institute do not necessarily endorse the content of the lectures and courses offered. All photos of Ayn Rand are used by permission of the Estate of Ayn Rand. A Note from the Purchases from the Ayn Rand Bookstore do not qualify as TM tax-deductible contributions to the Ayn Rand Institute. Executive Director— Editor: Don Watkins TM books/audio/videos . . . for the rational mind Editorial Advisers: Dr. Yaron Brook, Mark Chapman, ARI’s Impact on Debi Ghate, Anu Seppala Designer: Simon Federman SPOTLIGHT ON THE BOOKSTORE Printing: David Antonacci Copy Editor: Donna Montrezza Public Policy Headquarters: 2121 Alton Parkway, Suite 250 Affirmative Action: Irvine, CA 92606-4926 Phone: 949-222-6550 Fax: 949-222-6558 I have outstanding news that I wanted to A Diversity of Criticisms © The Ayn Rand Institute 2007. All rights reserved. Not to be make you aware of. A panel discussion featuring Peter Schwartz, reproduced without permission. As you may Ward Connerly and Richard Sander already know, (ARI Lecture Series, November 5, 2007) ARI analyst Tom Bowden’s op-ed In 1996, California voters, in a blow to advocates of Affirmative “Deep-Six the Law Action, passed Proposition 209, banning public entities from of the Sea” appeared discriminating on the basis of race, sex, color, ethnicity, and national origin. in the November 20 Opponents of the proposition responded with claims that, edition of the Wall far from promoting discrimination, Affirmative Action provides

Street Journal. The just compensation for past harms done to minorities and is ® impact of that op-ed an important tool for creating racial equality and promoting has been extremely diversity. What are the actual effects of Affirmative Action pro- encouraging. Both Sen. James Inhofe of grams? And what are the ideas and ideals that lead many to Oklahoma and Sen. John Kyl of Arizona support it? What should be the government’s role in fighting have referenced Mr. Bowden’s article. discrimination or promoting diversity? This is a major milestone for the Insti- In this discussion, held on the 11th anniversary of the tute—not only for having our views make passing of Proposition 209, a distinguished panel of speakers the editorial pages of one of the nation’s delivers a variety of critical perspectives on Affirmative Action. most prestigious newspapers, but also for having that editorial cited approvingly by two prominent U.S. senators. I believe that this is clear evidence of the extraordinary potential that we now have to make an impact on policy issues. Who would have thought, five or ten years ago, that something like this would have been possible? Our ability to continue to produce articles such as Tom Bowden’s—and to get them published in the nation’s lead- ing newspapers, where they come to the attention of key policymakers—is directly related to the support we receive from donors such as you. Likewise, your continued backing of (2 hrs., 1 min., with Q & A) our media and advocacy efforts is vital to DVD: $18.95 our success; so I hope you will consider a Audio CD: 2-CD set: $16.95 special contribution to ARI to allow us to keep this momentum going. To order, please visit www.aynrandbookstore.com. Thank you again for your support of our efforts! * * * It’s not too late to place your holiday bookstore Best, order. We also have available Ayn Rand Book- store gift certificates. We will send a catalog with Yaron Brook each gift certificate. Bookstore gift certificates are available in any denomination. Order now!

4 Sustaining the Intellectual Battle: A Conversation with Jim Brown and Sidney Gunst, Jr. In the series “The New Intellectuals,” Impact in a position to contribute monetarily in a fairly Interview with Sidney Gunst, Jr. interviews Objectivist scholars and writers significant way to ARI, and it’s given me a lot of who—with the help of ARI’s training or support, satisfaction to be able to do that. Impact: Can you tell us about your background? and often both—are working to spread Ayn As for this specific project, it was first men- Sidney Gunst: I am a real estate developer. Rand’s ideas in academia and in the culture. As tioned to me by Yaron Brook a while back. Then, I primarily do office park development in central a complement to those profiles, our “Sustaining at the Objectivist Summer Conference 2007 in Tel- Virginia. In fact, that’s what got me interested in the Intellectual Battle” series profiles ARI donors. luride, I heard much more about the project, both ideas. I was embroiled in various environmental Our aim is to recognize and acknowledge some from Yaron and from Sidney Gunst [see interview battles and I became fascinated about the erosion of the people whose generous contributions make below]. It became clear in those discussions that of my property rights. I wanted to understand why possible and sustain ARI’s projects—including if this project was going to be successful, it had to I was being assaulted by various laws, regulations, our cultivation of the New Intellectuals. The series have a good start. I’m in the investment manage- rules and zoning requirements. I do high-quality focuses on longtime Benefactors. ment business and one thing I know is that new work and I couldn’t believe how my rights were businesses must be properly capitalized. I thought being trampled on, yet I was totally unprepared to * * * that if I could jump-start this project, we could defend myself. In this special installment of our “Sustaining eliminate the question of whether it had adequate Then in 1995 I met Craig Biddle [editor of the Intellectual Battle” series, Impact talks to start-up funding and focus on properly executing it. The Objective Standard, a journal of culture and two donors who are helping to make possible I do not have the talent to do what Yaron politics written from an Objectivist perspective], ARI’s East Coast office, scheduled to open in does—to speak in front of the media and in front expressed my interest in ideas, and was exposed to Washington, D.C., in 2008. of groups. I would never be as good at that as him. Ayn Rand’s ideas. Mr. Jim Brown, a longtime ARI donor, is a But what I can do and what I have had success I was attracted to her ideas immediately partner and a voting member of the Large Cap doing is investing, and I thought how exciting it because I had all the concretes; I just didn’t have Investment Committee of Brandes Investment would be to use that success to help get this ven- a conceptual framework to understand them. Of Partners. He also leads the firm’s research efforts ture started. course it took me a while to grasp the nature in the financial institutions and utilities sectors. Impact: What about this particular project and origin of rights and of the entire system of Mr. Brown earned a Bachelor of Science degree made you want to support it? philosophical principles underlying them, but, from the United States Air Force Academy and JB: I would say its potential to help hasten the thankfully, having Craig there and being able to an MBA from Harvard Business School. He has realization of ARI’s goals. bombard him with questions made the process twenty-two years of investment experience. One of the things ARI has been very good at much easier. Mr. Sidney Gunst, Jr. is a real estate is increasing the number of students, teachers and Since then I have attended the summer confer- developer in Richmond, Virginia. He helped intellectuals exposed to Ayn Rand’s views. The ences regularly, and am now enrolled as a student found The Objective Standard, a journal of East Coast center can build on that success by spe- in the Objectivist Academic Center. culture and politics written from an Objectivist cializing in promoting her views in the media, to Impact: What has been your experience in the perspective, edited by Mr. Craig Biddle. journalists, to politicians and to the general public. OAC? Please note that the East Coast project is still It will be able to do so in two ways. First, it will SG: Right now I’m taking Intro to Philoso- in its early planning stages, and that any specific allow ARI to expand its media efforts to provide phy with Dr. Onkar Ghate. It’s an online class plans are tentative and subject to change. the Objectivist perspective on the political, eco- where you are required to argue, in writing, for nomic and cultural events of the day in a way that and against various philosophical positions—not * * * is compelling and timely. Second, the plan is that just defend the Objectivist view. I have found it to Interview with Jim Brown the center will eventually become similar to a think be really enjoyable and extraordinarily demand- tank, supplying rational solutions in various areas ing. You can read all the books you want, but only Impact: Tell us about your career background and of government policy, forming ad hoc alliances on when you’re on the front line, thinking and writing your background in Objectivism. specific issues with other think tanks, and generally on these issues, can you really integrate the ideas. I Jim Brown: I grew up in Texas. I entered the being at the forefront of America’s policy debates. have been exposed to all of these ideas before, but military via the U.S. Air Force Academy in 1967, Which leads me to the long-term goals I believe Onkar’s class is teaching me to think about them which is where, on the recommendation of a fresh- the center will help Objectivism achieve. Looking more deeply and carefully. man English teacher, I first discovered Ayn Rand. out ten years from now, I want to reach a point in Impact: How did you become involved with I read The Fountainhead and immediately became American culture where reason, and the East Coast office project? interested in Objectivism. capitalism are widely viewed as competing alterna- SG: I am Craig Biddle’s backer on The Objec- Impact: What about Ayn Rand’s ideas tives to irrationalism, altruism and collectivism. tive Standard, and I have been involved with ARI appealed to you? Until recently, I have seen the ideas I for years as a contributor. But I’ll tell you what JB: I was raised a Catholic, and was always embraced dismissed and laughed at. That is not attracted me to this project in particular. interested in philosophical ideas. As a young man, true anymore. We are getting to a point where we It was not primarily the location of the I was very taken with the elegant theology of the are gaining legitimacy in the eyes of the public, office—although there are important reasons to Catholic Church, but the more I thought about and I think that’s for two reasons. One is that have a presence on the East Coast. Instead, it was it the more doubts I had. The minute I read The there’s a big cultural vacuum out there and nobody the idea to focus on dealing with current issues, Fountainhead—it didn’t even take Atlas Shrugged else has any good ideas. And on the positive side, applying Objectivist principles to them in a way for me—I was able to guiltlessly drop religion when you have a revolutionary new philosophy, it that would grasp the attention of the media, of the entirely and never look back. Her philosophy iden- takes decades for it to percolate—it takes thou- public and, importantly, of businessmen. That very tified in abstract terms what I had observed in life, sands of articles, and letters, and speeches, and much appealed to me and got me excited. and provided compelling answers to the questions books in order for you to start to influence profes- I would like to see the center as an outreach that I had. Reading The Fountainhead was like a sors, writers and other opinion makers. Objectiv- extension of ARI, dealing quickly with current bolt from the blue; it was a “road to Damascus” ists have done that—indeed, much of that work events, and cultivating a much broader involve- experience, to coin a bad analogy. is being done by ARI—so I think we are now in ment of the business community so it can see the Following the Air Force Academy, I went on the position to be able to offer solutions to today’s benefits we can bring to the table. to a career as a pilot in the Air Force, which I left economic and political problems and get a fair Impact: What has your involvement consisted in 1976 in order to pursue a an MBA at Harvard. hearing. And once that happens, I think in a sense of? During that time I became more active in promot- we will have won, because I have enormous confi- SG: To a large extent, giving Yaron Brook my ing Objectivism: I sponsored various Objectivist dence in the power of Objectivist ideas. So that is two cents worth about what I feel he ought to do tape lecture courses and sponsored Allan Gotthelf my long-term vision, which I think the East Coast [laughs]. As we move forward, my aim would be to speak at MIT, among other activities. center will help us reach. to help cultivate new relationships with people in In the mid-1980s, after changing jobs a few Impact: What is the selfish value you get from the business community and prospective donors, more times, I became a stock broker, which was a supporting ARI? as well as people whose rights may have been vio- long-standing interest of mine, and gradually moved JB: I guess I would sum it this way. Peter lated and who we may want to get involved with to into various aspects of the investment management Drucker has a famous saying: “The best way to highlight a given issue. I see myself as being more business. For the last eleven years I’ve been at predict the future is to create it.” And I think that “in the field,” so to speak. Brandes Investment Partners in San Diego. I’m now goes nicely with Ayn Rand’s point that “anyone I am not a professional intellectual; I’m a a partner there, where I head the financials research who fights for the future, lives in it today.” Chang- businessman first and foremost. But I have utmost team, the utilities research team and where I sit as ing the culture is deeply, personally important respect for the necessity of the intellectual and the a voting member on our big cap investment com- to me. I don’t care how old I get, I will never be philosophic, and so it is satisfying to be able to mittee. We manage a lot of money, $125 billion, in ready to resign myself to a declining civilization. participate in a non-intellectual capacity, and make equity for various clients around the world. So for me there is a very profound satisfaction I a very real, very tangible impact on promoting Impact: How did you become involved in get from using my hard earned wealth to serve this rational ideas. ARI’s East Coast office project? deeply, personally important value of changing the JB: I have always been interested in intellec- culture. What could be more selfish than that? tual activism. In the last five years or so, I’ve been

5 Matching-Gift Employers Op-Ed: Why Businessmen Love Atlas Shrugged in 2007 By Alex Epstein

mpact is pleased to announce that 2007 If you ask any hundred grateful customers eager to buy his magnificent was a year of great success for many ARI I successful businessmen new product. Instead, he is punished for his contributors trying to secure matching gifts chosen at random to efforts—first by slander and denunciation from their employers. name the book that has from a society that damns Rearden Metal as a Many employers sponsor “matching gift” most inspired them, fraud (“a lethal product of greed”)—then by programs and will match dollar-for-dollar you will undoubtedly the destruction of his profits by regulations the charitable contributions made by their hear one title repeated that dictate, in the name of the “public good,” employees. By taking advantage of such over and over: Atlas how much he can produce and whom he must a program from your employer, you could Shrugged—Ayn Rand’s sell to—and finally by outright nationalization effectively double your support of ARI. In fact, epic novel, which of his product. As his business is destroyed, some companies will even match contributions celebrates its 50th anniversary this month. Why the world suffers destruction with him—yet made by retirees and/or their spouses. do businessmen love Atlas Shrugged? his critics still mindlessly damn his pursuit In addition to the many small and medium- Because, in the form of a thrilling novel of profit, and demand “wider powers” for the sized companies which have matched gifts so with inspiring heroes, it does something no government to curb it. far in 2007, some of the largest U.S. employers other book has ever done: it presents the As Rearden suffers through all this for have participated, thanks to the efforts of ARI pursuit of profit, the essence of business, as a the sin of trying to make money by creating contributors who work for them. In some profoundly moral activity. incredible value, he is led, with the help of the cases, gifts were matched on behalf of multiple Observe that while profit-seeking is widely strike’s leaders, to a profound moral realization. donors who work for the same company: recognized as economically indispensable, it The selfish pursuit of profit that he so excels These large companies include: is also widely regarded as morally tainted, if at—pursuing his own well-being by his own not outright immoral. This applies, not just independent thought, production, and trade—is American Express to attempts to “profit” via theft or fraud, but the essence of what human life requires, and AT&T to the pursuit of profit as such. For example, therefore, the highest of moral virtues. “They pharmaceutical companies who successfully had known,” says Galt of Rearden and the other Cingular develop and sell life-saving drugs, oil strikers, “that theirs was the power. I taught ExxonMobil companies who explore the ends of the earth them that theirs was the glory.” to extract a vital resource, and financiers who Armed with, as Galt puts it, “the knowledge Google efficiently invest wealth through our dynamic of [his] own moral value,” Rearden is able to Merrill Lynch financial markets are all routinely castigated defend himself from government predations for their high profits. And those who defend like never before. In response to accusations Microsoft profit-seeking do so, not on moral grounds, but that he “works for nothing but his own profit,” Pfizer as an amoral means to a noble end: the “public Rearden responds defiantly, “I work for nothing good”—i.e., the good of everyone besides but my own profit—which I make by selling Verizon businessmen themselves. a product they need to men who are willing To the extent honest, productive Wachovia and able to buy it. . . . I do not sacrifice my businessmen absorb this view of their interests to them nor do they sacrifice theirs Wells Fargo profession—and most do, to some extent—they to me; we deal as equals by mutual consent to experience unearned guilt over their work, mutual advantage—and I am proud of every Although these companies can change their and are unable to morally challenge the ever- penny that I have earned in this manner. . . . I matching-gift approval guidelines at any time, increasing taxes and regulations foisted on them refuse to apologize for my ability—I refuse to at this time ARI is considered a qualifying for the “public good.” Atlas Shrugged rocks apologize for my success—I refuse to apologize nonprofit organization. So if you are an their world. for my money.” employee of one of these companies, you can The heroes of Atlas Shrugged are a group Unfortunately, while Rearden experiences easily participate in employer matching gift of great achievers, mostly businessmen, who, a lifelong moral transformation from the story programs with ARI pre-approved. This is one like businessmen today, live in a world that of Atlas, most of the readers of Atlas Shrugged of the most important ways that you can help damns, shackles, and drains them. But these do not. While many businessmen derive lasting support ARI, with minimal effort and at no achievers refuse to accept this treatment; inspiration from Atlas, they do not attain or additional cost to you. they fight back. They go on strike, refusing pursue an enduring understanding of the moral To find out if your company has such a to work in a society that at once depends on virtue of profit—and certainly do not proudly program, contact the personnel department at their achievements but brands them immoral defend their right to practice it freely. Thus, your place of work. Or, you can tell us the name for seeking to profit from those achievements. many of Atlas Shrugged’s most vocal admirers of your employer, and we will attempt to find They let the world see what happens when at once proclaim adoration for the novel, out on your behalf; please send us your details their “immorality” is removed. “We are evil, while simultaneously attempting to justify by e-mail to [email protected]. according to your morality,” the leader of the their existence by appealing to some “higher strike, John Galt, tells the world in a radio cause” (“the environment,” “diversity,” “the address, “We have chosen not to harm you community”)—and certainly do not proudly any longer. . . . We are dangerous and to be stand up for their right to pursue profit in a free shackled, according to your politics. We have market. They engage in the same tried-and- chosen not to endanger you, nor to wear the failed tactics of behind-the-scenes lobbying and shackles any longer.” appeals to the “public good” that have led to Without the great, profit-seeking the shrinking of economic freedom in the last Year-End Tax Alert industrialists, what remains is, as Galt puts 50 years, just as they did in the 50 years before it, “a world without mind”—a world without Atlas Shrugged. Fight bad government programs—don’t the thinker-creators who forge steel by the On the 50th anniversary of Atlas Shrugged, finance them! If you itemize deductions megaton, direct intricate transcontinental train businessmen should make a point of rereading on your tax return, you can “contribute” networks, and bring new inventions to the the novel. But this time, in addition to being less to the government at tax time by masses—a world that quickly spirals downward inspired to greatness by its heroes, they should donating cash or other assets to ARI now. into poverty and destruction. pay special attention to the book’s radical Contributions of appreciated As readers witness how the world treats moral philosophy—a philosophy that has the securities held more than one year the Atlases who carry it on their shoulders, and potential to truly change how they look at their offer double tax savings: they are fully what happens when Atlas shrugs, they gain a lives and enable them to fight successfully for deductible at current market value, and new appreciation for these “dollar chasers,” and their freedom. capital gain tax is also avoided; for begin to question the premise that the profit details, visit www.aynrand.org/stock. motive is immoral. Readers are joined in this Alex Epstein has a BA in philosophy from Duke University As always, consult your tax advisor moral-intellectual journey by one of the leading and is an analyst at the Ayn Rand Institute. He was the editor and publisher of The Duke Review for two years. He is a before arranging a transfer of non-cash characters in the story, metal magnate Hank property to the Institute. contributing writer for The Objective Standard, a quarterly Rearden, who is one of the last to learn about journal of culture and politics. His articles there include “‘Just Gifts must be completed by the strike. War Theory’ vs. American Self-Defense,” co-authored with December 31 to qualify for a deduction We meet Rearden at the triumphant Yaron Brook. His op-eds have appeared in such publications on your 2007 tax return. For assistance culmination of his 10-year quest to as the Detroit Free Press, Houston Chronicle, San Francisco with your year-end gifts to ARI, contact revolutionize the industrial world with Chronicle, Philadelphia Inquirer, Chicago Sun-Times, Atlanta Journal and Constitution, Arizona Republic, Canada’s National Kathy Cross at 310-876-1633 or Rearden Metal: an alloy far lighter, stronger, [email protected]. Post, Indianapolis Star, Orange County Register, Tampa and cheaper than steel. When he succeeds, he Tribune and the Washington Times. Mr. Epstein has been a expects to profit handsomely from sales to guest on numerous nationally syndicated radio programs.

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