Objectivism: A Philosophical System
Notably, Rand formulated philosophical system that was referred to as objectivism that can be implemented in the fields of ethics, politics, and economics. Rand argued that the universe has occurred externally by its ideas are further extended by the occurrence by a rational as well as an important God. The research focuses on Laissez Faire Capitalism that was the primary thoughts of Rand as a way of promoting morals in the society.
Laissez Faire Capitalism: Emphasizing Individualism and Freedom
The Laissez Faire Capitalism philosophy emphases on the idea that individual that accepts the truth embraces their rational thoughts, and considers their life for a moral purpose will fight for their rights and freedom. In economics, people with individual and private businesses demand the freedom of free transaction that is separate from government regulations, tariffs, privileges, and subsidies. This will enable them to own private property, accumulate profits, and have a voluntary exchange system in the competitive markets (Levi-Faur, 289). According to Rand’s argument, the method of laissez-faire requires the government to protect the rights of people through placing punishment on the use of force and infringement of the rights and freedom of individuals.
Reasoning as the Source of Knowledge and Values
Reasoning as the source of knowledge is vital for every individual’s survival and hence is required to achieve the human values that guide what is wrong and right. Rand argues that man’s ability to reason will be reduced when his rights are violated through the use of force by the government or criminal. Reduced reasoning hence will lower the knowledge that an individual requires to engage in his daily activities and own property and other useful supplements of life (Knauff and Wolf, 101). She, therefore, recognized voluntary cooperation as the only way that is consistent with reasoning based on the nature of human behavior. The objectivism holds that the use of force against the will of an individual is illegal due to the notion that reasoning requires voluntary cooperation and that the use of force lowers reasoning. She considered all intellectual property as fundamental and argued that their limitation granted to the investors and artists is moral.
The Capitalistic Society and Individual Freedom
A capitalistic society allows every man to work freely according to his efforts and receive rewards based on his rationality. The only way a man can sustain his life is through the intellectual ability which is dictated by the mind and rationality. Reasoning enables one to produce products which are the means of survival. Rand argues that capitalism allows individuals to be free to cooperate and to associate with one another by their judgment and interest which is determined by their values and behaviors. The essential rights dictated by capitalism include the right to own personal property, right of liberty and to be happy and every individual is expected to respect the rights of the other (Levi-Faur, 157). Furthermore, Rand opposed racial discrimination terming it as disrespect to humanity and considered a positive action to be taken.
The Government's Role in Protecting Rights
Rand identified the government as the only body that should protect the rights of people from being violated through the administration of punishment to those who use physical force on others. Importantly, she opposed a society that allows self-governed communities based on voluntary entities as the use of police and courts proved to provide justice in the markets much more. The functions of the government in protecting human rights included the police who ensured protection from criminals, and the armed forces protected people from external attacks and invaders. Inclusively, the law courts settled disputes among people to ensure peaceful relationship and respect among each other. Since the citizens have the mandate to delegate the rights that the government should conform to, the government only acts as argent in ensuring the rights of its people are protected.
Works Cited
Knauff, Markus, and Ann G. Wolf. "Complex cognition: the science of human reasoning, problem-solving, and decision-making." (2010): 99-102.
Levi-Faur, David. "Regulatory capitalism." Regulatory Theory(2017): 289.
