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The Atlas Society

Hosted by The Atlas Society’s Senior Scholar, Dr. Richard Salsman, Ph.D., assistant professor of political economy at Duke University, Morals and Markets is a 90-minute webinar held on the fourth Thursday of each month.

The purpose of Morals and Markets is to explore the intersections between ethics, politics, economics, and markets. A few readings are included in advance of each session; the sessions begin with opening comments by Dr. Salsman, followed by participants’ questions, comments, and debate. Dr. Salsman emphasizes the ideas and interpretations of novelist-philosopher Ayn Rand and her philosophy of Objectivism, including open-ended interpretations by her successors, but webinar participants need not be familiar with (nor endorse) those ideas; moreover, the webinar incorporates relevant ideas from all types of important and influential philosophers, legal theorists, political economists, business executives, and politicians.

Since 2015 Dr. Salsman has taught in Duke’s Program in Philosophy, Politics, and Economics (PPE); he also conducts a popular seminar for first-year students, titled “Capitalism, For and Against.” Many of the topics, controversies, and debates that arise in these settings are relevant to topics covered in Morals and Markets.

Morals & Markets with Dr. Richard Salsman

Civil law and tort courts properly require monetary restitution to those who are harmed, given objective evidence of causality, responsibility, and materiality. Class action lawsuits also can be legitimate. But “reparations,” as now conceived, unjustly collectivize wrongs, designate innocents as perpetrators, and classify the undeserving as victims. The problem with reparations isn’t so much logistical as it is ethical.

To join us live for future sessions, fill out the form on our website at: https://www.atlassociety.org/atlas-university/morals-and-markets OR follow The Atlas Society on Kazm and RSVP for all of our Atlas University Live Events

The Right And Wrong of Reparations - Dr. Richard Salsman

In this special co-hosted session of Atlas Society Senior Scholar, Dr.Richard Salsman's monthly Morals & Markets Seminar he discusses:

 Are cryptocurrencies genuine or instead fraudulent as monies?

 What role have they played in the economy so far, and how might they influence the future?

 What explains their attraction?

 What are their main risks and might they spread as a contagion globally?

 Do cryptocurrencies differ materially (Bitcoin, Ether, Solana, USD Coin) and if so, why might it matter?

 El Salvador has designated Bitcoin as legal tender, while other states (China) are hostile to cryptocurrencies. Are they an alternative to government fiat monies or instead a possible model for well-run public digital currencies? 

with Duke Economics Student and writer for Bitcoin Magazine, Jack Kriesel. Jack, a former nay sayer of Bitcoin, has become one of its strongest young advocates! Listen to his perspective as he goes back and forth with Dr. Salsman and the session's participants.

To join us live for future Morals & Markets Discussions, visit: https://www.atlassociety.org/atlas-university/morals-and-markets

The Economics and Politics of Cryptocurrencies co-hosted by Dr. Richard Salsman and special guest, Jack Kriesel!

Central banks, as monopolist issuers of state-based fiat (mandatory) money, operate not to help economies but to assist fiscally profligate governments in funding themselves cheaply and surreptitiously. Lately, in response to the spread (and threat) of cryptocurrencies, central banks have pursued plans to issue their fiat monies in digital form. Per the BIS, 86% of them are actively researching central bank digital currencies (CBDCs), 60% are experimenting with it, and 14% have pilot projects. Fans claim CBDCs will help central banks better manage the payments system, inflation, and the economy. But nefarious motives are also likely, having to do with “Modern Monetary Theory” and more direct means of financing profligate governments.

Please like, subscribe, and share this podcast and visit atlassociety.org/events to view more conversations with our senior scholars.

The Atlas Society is the leading nonprofit in engaging young people with Ayn Rand’s ideas and has become one of the most influential nationwide forces for advancing the key principles of individualism, reason, and liberty. To donate visit atlassociety.org/donate

Central Bank Digital Currencies: What's The Point?

"Increased global reliance on increasingly expensive oil and gas from Russia has fueled its foreign aggressions. As was true of the oil-rich Middle East despots in the 1970s, Russia’s biggest ally has been environmentalists who, being anti-capitalist, oppose precisely the energies that best power capital infrastructure: fossil fuels and nuclear energy. Instead of advanced economies using these abundant, cheap, safe, and reliable energy forms, environmentalists prefer reliance on medieval, pre-industrial forms – wind, water, sun – knowing that capitalism would perish by their widespread use."

REGISTER to attend Morals & Markets LIVE: https://www.atlassociety.org/atlas-university/morals-and-markets

How The War On Fossil Fuel Fuels War

Note From Dr. Salsman: Just as rational egoism is the only proper ethic to guide an individual’s life, it’s the only proper ethical guide for a state’s relations with other states. The essence of America is its liberties, its rights, and its capitalist system; consequently, the self-interest of the United States lies in preserving those values, neither sacrificing nor surrendering them, especially not for so-called “humanitarian” (altruistic) motives, merely to help victimized foreigners. The U.S. must rationally identify its allies and enemies, then act accordingly. It must never provide national defense for other nations that mostly pretend to be sovereign. Rational egoism justifies neither pacifism, isolationism, nor imperialism. America cannot preserve her essence or institutions, nor again find a way to fight and win only the right wars, without following the egoistic principle. She must be a moral paragon for the world, but never its policeman.

Checkout our other TAS conversations related to foreign policy and the War between Russia and Ukraine on The Atlas Society's Ukraine-Russia War Page. We lean into intellectual disagreements between our scholars and are updating this page weekly with new content. To get diverse, unbiased, and unfiltered takes on the Russia-Ukraine War, visit the page and join us for future conversations on atlassociety.org/events

Egoistic Foreign-Military Policy

Many nations recently have imposed economic sanctions on Russia. Is this proper? Effective?

In “The Roots of War” (1966) Ayn Rand argued that “the essence of capitalism’s foreign policy is free trade—i.e.,the abolition of trade barriers, of protective tariffs, of special privileges—the opening of the world’s trade routes to free international exchange and competition among the private citizens of all countries dealing directly with one another.” 

But she also opposed U.S. trade with America’s sworn, mortal enemies (e.g., U.S.S.R.). In this session we’ll discuss if/when economic sanctions are justified and their typical effects (for good or ill). Like protectionist measures, sanctions often hurt the imposer more than the imposed.

Sign Up To Attend Morals & Markets Live: https://www.atlassociety.org/atlas-university/morals-and-markets

Are Economic Sanctions Ever Defensible?

The model of so-called “stakeholder capitalism,” a contradiction in terms, is fast replacing the model of shareholder capitalism (a redundancy). The stakeholder model entails scores of pressure groups (including politicians and regulators) dictating what corporations must do, especially if the doing is less rational, less profitable, and averse to shareholders’ goals. A related designation, “ESG,” is a budding American version of China’s Social Credit System. Whereas capitalism entails both private ownership and control of the means of production, fascism entails private ownership but public control; the latter is the essence of stakeholder-ism.

 

Register for upcoming Live sessions of Morals & Markets via Zoom HERE: https://atlassociety-org.zoom.us/meeting/register/tZcod-6grzwuEt1f5ZGeL0AjrLVqENi7zwMB

Stakeholder Capitalism Is Fascistic

Join us LIVE on the 4th Thursday of every month to take part in Morals & Markets with Dr. Richard Salsman, presented by The Atlas Society. We only include the first 30-minutes of opening remarks from these seminars in the podcast. Attending live grants you access to another 60-minutes of Q&A and discussion with Dr. Salsman and the other participants! 

Register HERE & add future sessions to your calendar: https://atlassociety-org.zoom.us/meeting/register/tZcod-6grzwuEt1f5ZGeL0AjrLVqENi7zwMB

Episode Description From Dr. Salsman: 

"It’s widely but falsely assumed that financial-economic capitalists are necessarily pro-capitalist ideologically. Why is this so? By now, “woke” CEOs are widely recognized (and hailed) for being anti-capitalist, including by violating their fiduciary duties to shareholders. The graduate degree of “master’s in business administration” (MBA), which is on the resume of one-third of Fortune 500 CEOs, is a main cause of the woke CEO trend. In prior sessions we’ve discussed the fascistic nature of the “stakeholder” model of corporate governance; in this session we discuss how and why MBA programs preach this and other ideas that erode capitalism."

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Interested in supporting this Podcast?

The Atlas Society is the leading nonprofit in engaging young people with Ayn Rand’s ideas and has become one of the most influential nationwide forces for advancing the key principles of individualism, reason, and liberty. Each day we strive to inspire and equip people to embrace reason, achievement, and benevolent self-interest as the moral foundation for political liberty, personal happiness and a flourishing society through art, social media, activism, and education -- helping a new generation to discover the Atlas within.

The Atlas Society is a 501(c)(3) Not For Profit Organization. All donations are tax-deductible. Our Tax ID number is 13-3554791.

LEARN MORE/DONATE

Why MBAs Are Not Pro-Capitalist with Dr. Richard Salsman

It’s now commonplace to hear it said that markets “corrupt our morals.” This sentiment derives from the false premise that the selfish pursuit of our interests, values, possessions, and happiness is low, crude, vulgar, and immoral. The supposed “higher” and “nobler” things lie beyond our selves and beyond this earth. In fact, markets – whether the construed as the exchange of material or intangible values – count on and reward civilized attitudes and behaviors. Markets are humanizing; they embody rationality and objective values; they enshrine justice; they entail reciprocity; they invite us to present the best within us; they teach us lessons; they also ostracize and penalize those who try to practice the main vices (lying, cheating, mooching, and looting).

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Morals and Markets is a 90-minute webinar held on the fourth Thursday of each month (8:00 PM-9:30 PM ET), by Dr. Richard Salsman who is a Senior Scholar at The Atlas Society as well as a Professor of Economics at Duke University. He began hosting Morals & Markets for alumni of his classes at Duke who wanted to continue to have engaging conversations on contemporary topics that explore the intersection between ethics, politics, economics, and markets. Sessions begin with remarks by Dr. Salsman, followed by Q&A, discussion, and debate. Morals & Markets presents a unique opportunity to engage with a pro-liberty, pro-capitalism professor of Economics who has years of first-hand experience on Wall Street and in the classroom. Dr. Salsman carefully prepares each session on a highly relevant, contemporary topic, discussing how it intersects with philosophy, economics, morals & markets.

REGISTER for our next session via the recurring zoom link and don't forget to add the event to your calendar.

How Markets Elevate Our Morals

Cronies who receive political favors include not just corporate “fat cats” but colleges and college students. President Biden recently decreed a unilateral cancellation of student debt (up to $20,000 per borrower) which would cost roughly $500-750 billion. Aside from the question of whether Biden, Congress or some agency is empowered to cancel debt, is the policy just or unjust? Practical or impractical? What about those who didn’t go to college, didn’t borrow for it, or have serviced their debt? Why is student debt so high? Why is Washington involved at all? What does Biden’s policy imply about the national debt? After all, if Washington can unilaterally forego money it is owed, why can’t it do likewise for money it owes to others?

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Enjoyed the episode? Join Dr. Salsman live on the fourth Tuesday of every month at 5:00 PM PT / 8:00 PM ET on Zoom for Morals & Markets LIVE and take part in an extra hour of discussion! REGISTER HERE: https://atlassociety-org.zoom.us/meeting/register/tZcod-6grzwuEt1f5ZGeL0AjrLVqENi7zwMB

Collegiate Cronyism with special guest, Atlas Society Founder, Dr. David Kelley

FTX, an exchange for cryptocurrencies, was fraudulent almost from its start in 2019. Its recent bankruptcy reveals that it robbed millions of people and billions of dollars, then spent most of it on Democrats. FTX founder Sam Bankman-Fried (SBF) veiled his fraud with "effective altruism," a pseudo-ethical scheme from academic philosophy, the opposite of egoistic profit-maximization. Altruism is beloved, wrongly, as an ethic of goodwill to others. SBF knew he was perpetuating a fraud - first ethical, then financial: EA, he said, is "this dumb game we woke Westerners play where we say all the right shibboleths, so everyone likes us."

 Suggested Readings/Sources:

 “The Do-Gooder Movement that Shielded Sam Bankman-Fried from Scrutiny,” Washington Post (2022.11.17).
 “Professor Singer Says FTX Fraud Won’t Stop His Effective Altruism Movement,” CBC News (2022.12.17).
 “How Effective Altruism Let Sam Bankman-Fried Happen,” VOX (2022.12.12).
 Singer, P. “The Logic of Effective Altruism,” Boston Review (2015.07.01)

 

Want to hear more from Dr. Salsman? Purchase your ticket to meet him & the rest of our Atlas Society Scholar faculty in person in Nasvhille, TN July 27th - 29th for our Galt's Gulch Summit 2023. Check out the details and get your ticket today at: https://www.atlassociety.org/galtsgulchsummit2023

The FTX Scam: "Effective Altruism" In Action

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