Subprime Mess: Statist Policy Does It Again

Don't Blame The Markets is a good article by the New York Sun on the subprime debacle. Properly, it lays the blame at the feet of a "small army of hard left political hustlers who spent the early 1990s pushing risky mortgages on home lenders."

Conflate

Wiktionary's definition of "simplistic" includes this usage note: "This is not to be conflated with “simple”. simplistic implies simplicity to excess, whereas simple does not. The phrase “overly simplistic” is therefore a tautology."

Conflate is a good word to keep in one's vocabulary, one's mental toolbelt. Merriam-Webster defines it as follows:

1 a: to bring together : fuse b: confuse
2: to combine (as two readings of a text) into a composite whole

In the case of simple vs. "simplistic", it's an error, of course. At the same time, it echoes Ayn Rand's reminder about the importance of the precise use of language—the primary purpose of which is precise understanding, the growth of your own personal knowledge. It aids communication, of course; but first and foremost, understand well what it is you wish to communicate.

The precise use of language is aided by knowing about something Rand called package-dealing". The arch example of a package-deal is the word selfishness, how it is commonly used. Ayn Rand writes of it as follows (from her nonfiction book, The Virtue of Selfishness):

The title of this book may evoke the kind of question that I hear once in a while: "Why do you use the word 'selfishness' to denote virtuous qualities of character, when that word antagonizes so many people to whom it does not mean the things you mean?" To those who ask it, my answer is: "For the reason that makes you afraid of it." But there are others, who would not ask that question, sensing the moral cowardice it implies, yet who are unable to formulate my actual reason or to identify the profound moral issue involved. It is to them that I will give a more explicit answer.

It is not a mere semantic issue nor a matter of arbitrary choice. The meaning ascribed in popular usage to the word "selfishness" is not merely wrong: it represents a devastating intellectual "package-deal," which is responsible, more than any other single factor, for the arrested moral development of mankind. In popular usage, the word "selfishness" is a synonym of evil; the image it conjures is of a murderous brute who tramples over piles of corpses to achieve his own ends, who cares for no living being and pursues nothing but the gratification of the mindless whims of any immediate moment. Yet the exact meaning and dictionary definition of the word "selfishness" is: concern with one's own interests. This concept does not include a moral evaluation; it does not tell us whether concern with one's own interests is good or evil; nor does it tell us what constitutes man's actual interests. It is the task of ethics to answer such questions.

The lesson I take from that is this—precision matters, not just in my particular profession, but most particularly in my personal life, in all my relationships from casual to intimate. The precise use of words helps me to enjoy and honor those relationships at the same time. When I call or regard someone as either selfless or selfish, I use those words with absolute precision. Paradoxically, that razor sharp mental focus makes it all the easier for me to enjoy my emotions, my happy responses to those closest to me. For more details, for now, I refer you to the corpus of Ayn Rand's works.

The Leningrad Cowboys...

...a Finnish rock band and the Red Army Choir sing, in English, "Sweet Home Alabama". Too funny. Must see.

Simplistic

An interesting skirmish is afoot at The Detroit Free Press. It includes the charge that Ayn Rand's philosophy is "simplistic". The skirmish includes an excellent response from HBinswanger, which is provided below in toto:

As a professional philosopher, I'm responding to the charge that Objectivism is "simplistic." That term exemplifies what Ayn Rand termed an "anti-concept": "an unnecessary[sp] and rationally unusable term designed to replace and obliterate some legitimate concept."

"Simplistic" obliterates the concepts of "clarity" and "fundamentality." Ayn Rand is remarkably clear and deals in fundamentals. E.g., her basic axiom is "Existence exists." Simple, but clear and absolutely fundamental.

Or, take her definition of reason: "the faculty that identifies and integrates the material provided by man's senses." It's simple, but eliminates the pervasive false alternative of empiricism vs. rationalism.

In ethics, she holds that one's life is one's ultimate value. Again, it is clear and fundamental--also revolutionary.

For more technical issues, e.g., her new theory of concepts, see Introduction to Objectivist Epistemology. Those who smear Objectivism, as "simplistic" should consult it.

Polemically, I'll add this observation: if you grant the premise of a notion like "simplistic", you open yourself up to the same charge. For example, those who dismiss Ayn Rand's philosophy as "simplistic" are, themselves, being "simplistic".

Note: This also echoes a point I made earlier about the fallacy of self-exclusion.

This is one of the things I don't like about polemics—it's too easy for it to devolve into "I'm rubber you're glue..." nonsense. I prefer HBinswanger response above. It elevates the entire dialogue, keeping the focus on ideas and fundamentals.

Atlas Shrugged movie

51 years ago, Ayn Rand's great novel Atlas Shrugged was published. For years, a movie has been "in development". The latest incarnation on this effort can be read here.

Interestingly, this report includes this confession:

What's most interesting is that Perelman managed this even though he isn't much of an Ayn Rand fan. "It's not very good literature," he and I agreed, "but I have respect for her."

It's one thing not to be a fan of Ayn Rand's ideas or her writing. It's quite another to posture as if you know what you're talking about when you claim Atlas Shrugged is not great literature.

Facets of Ayn Rand

For some wonderful personal insights into Ayn Rand's personality, visit facetsofaynrand.com. Enjoy.

Atlas Shrugged

My favorite novel is now featured at atlasshrugged.com. I can't say enough good things about this truly great adventure story. The philosophy behind and within it challenges, among other things, the core ethical assumptions of centuries. As such, it is radical—radical in the truest sense of that word. At the same time, it's a breath of fresh air, giving depth to a lighthearted appreciation of all that is good in this fascinating world.