The Ayn Rand Institute uses the Paycheck Protection Program, an aid plan set up by the United States federal government to contain the economic damage caused by the pandemic
The Ayn Rand Institute has gained access to the Paycheck Protection Program ( PPP ), an aid plan set up by the United States federal government to contain the economic damage caused by the coronavirus pandemic.
The PPP allows companies and self-employed workers to access loans at a low interest rate that can help them continue to pay their employees or pay the rent for their premises.
The Ayn Rand Institute will obtain a million dollar loan to safeguard the jobs of thirty-five of its employees.
The news is interesting because the Ayn Rand Institute is one of the major supporters of laissez-faire- oriented liberal thinking, that is, the refusal of state intervention in economics.
WHAT IS AYN RAND INSTITUTE
It is a California-based non-profit think-tank, founded in 1985, which promotes the philosophy of the American writer Ayn Rand, the so-called "objectivism". Objectivism is based on rationalism and individualism; celebrates the selfish action of the individual, the search for personal happiness and capitalism as an economic model.
The theoretical foundations of the objectivist philosophy were spread to the general public by Rand in his novels: in particular The wonderful source ( The Fountainhead , 1943) and in The Atlas revolt ( Atlas Shrugged , 1957).
THE JUSTIFICATION OF THE INSTITUTE
The Ayn Rand Institute justified the apparent contradiction of its work – promoting liberalism and accepting state aid – by referring to a concept of "justice", arguing that "the government does not possess its own wealth, but can only redistribute the wealth of others". For this, the organization will take public aid "without remorse". And in May he warned : "If ARI receives money for government aid, it will be, for us, a partial refund of the losses suffered by the government".
Rand might have thought the same way. In a 1962 essay, the writer states that " government aid to businesses is as disastrous as government persecution: the only way a government can put itself at the service of national prosperity is by keeping hands away."
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/mondo/ayn-rand-institute-aiuti-stato/ on Fri, 10 Jul 2020 05:50:36 +0000.