In this episode of the Heartland Daily Podcast, research fellow Jesse Hathaway and Ayn Rand Institute executive chairman Yaron Brook talk about the morality of moneymaking, and Brook’s new book, In Pursuit of Wealth: The Moral Case for Finance.
Brook debunks the common wisdom about finance, explaining how the financial industry is actually moral and virtuous. By flipping the script and explaining how banking and investing is all about making people’s lives better. Financiers, Brook says, use their minds to create wealth, by taking existing wealth and directing it towards the ventures most likely to advance and promote humanity.
Brook and Hathaway elaborate on this vision, discussing how free-market solutions could work and help people become their best selves, if only government would get out of the way and let things unfold. The alignment of self-interested incentives is the most efficient way to get things done, Brook says, but government and regulations often prevent such an alignment from occurring, creating inefficiencies and suffering.