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Full Description
Read the Intro Chapter (PDF) View the Ayn Rand Appendix View an interview with author Robert L. Bradley, Jr. at Reason.com Capitalism took the blame for Enron although the company was anything but a free-market enterprise, and company architect was hardly a principled capitalist. On the contrary, Enron was a politically dependent company and, in the end, a grotesque outcome of America's mixed economy. That is the central finding of Robert L. Bradley's "Capitalism at Work": The blame for Enron rests squarely with "political capitalism"--a system in which business firms routinely obtain government intervention to further their own interests at the expense of consumers, taxpayers, and competitors. Although Ken Lay professed allegiance to free markets, he was in fact a consumate politician. Only by manipulating the levers of government was he able to transform Enron from a $3 billion natural gas company to a $100 billion chimera, one that went in a matter of months from seventh place on Fortune's 500 list to bankruptcy. But "Capitalism at Work" goes beyond unmasking Enron's sophisticated foray into political capitalism. Employing the timeless insights of Adam Smith, Samuel Smiles, and Ayn Rand, among others, Bradley shows how fashionable anti-capitalist doctrines set the stage for the ultimate business debacle. Those errant theories, like Enron itself, elevated form over substance, ignored legitimate criticism, and bypassed midcourse correction. Political capitali
Contents
Preface; Introduction; Part Iof Commerce: Adam Smith.; Chapter 2 - Character and Success: Samuel Smiles.; Chapter 3 - Supply-Side Ethics: Ayn Rand.; Part II: Business Opportunity, Political Opportunism.; Chapter 4 - Business Opportunity.; Chapter 5 - The Business of Politics.; Chapter 6 - U.S. Political Capitalism.; Part III: Energy Sustainability.; Chapter 7 - Malthusianism.; Chapter 8 - A Joined Debate.; Chapter 9 - Neo-Malthusianism.; Chapter 10 - The Dark Decade.; Chapter 11 - New Light.; Epilogue: Surreal Enron, Real Capitalism.; Appendices. A. The Ayn Rand Problem.; B. A Taxonomy of Political Capitalism.; C. Gabriel Kolko's Revisionism Reconsidered.; Resources for the Future Away from Optimism.; Source Notes.; Bibliography.; Index.
