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the masters of mankind,” the merchants and manufacturers of England, pursue their “vile maxim: all for ourselves and nothing for anyone else.” Smith’s vile maxim should be familiar to us. It has considerable resonance today. We’ll look into its theoretical background next week. But as you should be aware, the vile maxim has become a leading idea of what’s called “libertarianism” in the United States. It was popularized by Ayn Rand. Greed is great, all for ourselves, nothing for anyone else. She was the guru of prominent figures, among them Alan Greenspan, the much-admired chair of the Federal Reserve for many years. Another acolyte is Paul Ryan, former Speaker of the House, the main intellectual architect of the domestic programs of the Trump administration—which are, in fact, motivated by the vile maxim.
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Noam Chomsky (Consequences of Capitalism: Manufacturing Discontent and Resistance)