Capitalism: the Unknown Ideal
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Cover of the first edition
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| Author | Ayn Rand |
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| Country | United States |
| Language | English |
| Subject | Capitalism, political philosophy |
| Publisher | New American Library |
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Publication date
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| Media type | Print (Hardcover and Paperback) |
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| ISBN | |
| OCLC | 24916193 |
Capitalism: The Unknown Ideal is a collection of essays, mostly by Ayn Rand, with additional essays by her associates Nathaniel Branden, Alan Greenspan, and Robert Hessen. The authors focus on the moral nature of laissez-faire capitalism and private property. They have a very specific definition of capitalism, a system they regard as broader than simply property rights or free enterprise. It was originally published in 1966.
Most of the essays originally appeared in The Objectivist Newsletter or The Objectivist. The hardcover first edition was published by New American Library in 1966. When the book was published in paperback in 1967, it was revised to include two additional essays. In 1970, Rand revised the introduction to reflect her break with Nathaniel Branden.
Rand intended Capitalism: The Unknown Ideal to focus on the moral nature of capitalism, as opposed to focusing on its economic aspects. She contrasts this with what she says is the failure of most other defenders of capitalism to provide a moral defense of that system.
After an introduction by Rand, the book is divided into two main sections. The first section, "Theory and History", contains essays that focus on the theoretical basis for capitalism and historical arguments related to it. This section includes essays arguing against common objections to capitalism. The second section, "Current State", focuses on contemporary political issues from the 1960s. The topics covered in this section include the Vietnam War, student protests, and the papal encyclical Populorum progressio. An "Appendix" section reprints two essays on political theory previously published in Rand's earlier book, The Virtue of Selfishness. A recommended reading list about capitalism is also provided.
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