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Greenspan is the link between the original Rand cult and what we might think of as the second age of Rand: the Thatcher-Reagan years, when the laissez-faire, free-market philosophy went from the crankish obsession of rightwing economists to the governing credo of Anglo-American capitalism. Greenspan, appointed as the US’s central banker by Ronald Reagan in 1987, firmly believed that market forces, unimpeded, were the best mechanism for the management and distribution of a society’s resources. That view – which Greenspan would rethink after the crash of 2008-9 – rested on the assumption that economic actors behave rationally, always acting in their own self-interest. The primacy of self-interest, rather than altruism or any other nonmaterial motive, was, of course, a central tenet of Randian thought.

Put more baldly, the reason why Republicans and British Conservatives started giving each other copies of Atlas Shrugged in the 80s was that Rand seemed to grant intellectual heft to the prevailing ethos of the time. Her insistence on the “morality of rational self-interest” and “the virtue of selfishness” sounded like an upmarket version of the slogan, derived from Oliver Stone’s Wall Street, that defined the era: greed is good. Rand was Gordon Gekko with A-levels.

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