Ayn Rand’s concept of Capitalism is false and invalid, according to her own philosophy.
According to Ayn Rand’s Objectivist philosophy, a true concept must be observed before it is thought. If there is not an example in the real world, the mental concept is false and invalid.
- “…concepts represent classifications of observed referents…”i
- ”There are… invalid concepts, i.e. … without referents…”ii
- “Truth is a product of … identification… of the facts of reality”iii
- “All truth is a product of logical identification of the facts of experience.”iv
According to Ayn Rand, Capitalism is an “unknown ideal”v. A Capitalist economic system has “never yet existed, not even in America”vi. Using her premises, the following must be the case:
- If concepts must be observed and Capitalism has never been observed, then Capitalism is not a concept.
- If truth is real and Capitalism has never existed, then Capitalism is not true.
- If truth must be experienced and Capitalism is unknown, then Capitalism is not true.
- If concepts without referents are invalid and Capitalism does not have a referent, then Capitalism is an invalid concept.
Therefore, according to her own philosophy, Ayn Rand’s concept of Capitalism is false and invalid.
Sources:
Introduction to Objectivist Epistemology, New American Library, Mentor edition (paperback) 1979 Library of Congress # 78-71454
Capitalism: The Unknown Ideal, New American Library, Signet edition (paperback) 1967 Library of Congress # 66-26772
i Introduction to Objectivist Epistemology, Definitions, pg 62
ii Introduction to Objectivist Epistemology, Definitions, pg 65
iii Introduction to Objectivist Epistemology, Definitions, pg 63
iv Introduction to Objectivist Epistemology, The Analytic-Synthethic Dichotomy pg 158
v Capitalism: The Unknown Ideal
vi Capitalism: The Unknown Ideal, The Objectivist Ethics, pg 33