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Essay Contest on the Moral Foundations of Capitalism

The recent financial crisis has commonly been blamed on capitalism. Ruthless greed for profits, many say, led the financiers on Wall Street to carry out careless business practices that fattened their pockets but harmed those of us on Main Street. But is capitalism really that- a merciless system that allows a few individuals to step on many others for profit? Or is it a political system with a strong underlying moral foundation that has been deliberately misrepresented by its opponents? And if capitalism is based on moral principles, what exactly are these principles?

These are some of the questions posed in the first ever essay contest issued by The Objective Standard, a quarterly publication of scholarly articles on Ayn Rand’s philosophy of Objectivism. The first place winner of this contest will be awarded $2000 and the opportunity to have their winning essay published in The Objective Standard. It is open to students and non-students alike, and anyone who values capitalism is encouraged to contribute. Essays must be submitted by August 15. More information can be found at http://www.theobjectivestandard.com/essay/

Additionally, if you are interested in the contest or unfamiliar with Ayn Rand’s thoughts on capitalism, we suggest checking out a copy of her Capitalism: The Unknown Ideal, a collection of her essays on the subject.

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