Objectivism Today 1995

The all-day conference "Objectivism Today 1995" was held May 6 at Loews New York in Manhattan and drew more than 140 people. The conference marked the fifth anniversary of the Institute's founding.

Program

Stephen Hicks: Defending Shylock—Productive Work in Financial Markets

Although they create vast amounts of wealth, financial markets are capitalism’s most abstract and thus least understood institutions. They are often harshly criticized on the basis that working with money is vulgar, or that the "big boys on Wall Street" have an unfair advantage over the "little guy on Main Street," or that speculators, brokers, and analysts don’t do real work and make only "paper profits." In answer to the critics of financial markets, Prof. Hicks will explain the nature of the productive work performed and demonstrate how markets institutionalize noble and fair methods of creating wealth.

Prof. Hicks is chairman of the philosophy department at Rockford College in Illinois, and has also taught at Georgetown University and Trenton State College. He is writing a book on business ethics partially supported by a grant from the Institute. An excerpt from that book appeared in the June 1994 issue of the IOS Journal.

Jeff Scott: The Subversion of Ethics in the Mixed Economy

The 1980s produced spectacular innovations in financial markets but also saw many cases of improper behavior. Was there a surge of criminal motive or a relaxation of fiduciary ethics, or did bad law and regulation undermine personal and institutional integrity? Mr. Scott will explain how restrictions on financial market activity artificially shift wealth and show how value can be recaptured.

Jeff Scott is a financial economist working on a monograph for the Institute concerning the 1980s as a "decade of greed." He is a bank portfolio analyst, assistant vice president, at Wells Fargo Bank, N.A. The material presented in his talk does not necessarily represent the views of Wells Fargo Bank, N.A.

James Lennox: Liberty and a Human Environment

To understand environmental issues properly, we must begin by clarifying the very concept "environment," recognizing that the concept is species-dependent. Prof. Lennox will argue that we must assess the use of nature by referring to the requirements of human life. Even using this standard, cases of irrational destruction of the human environment do occur and Prof. Lennox will examine their causes and potential remedies.

Prof. Lennox is chairman and a professor of history and philosophy of science at the University of Pittsburgh, and a member of the IOS Advisory Board. He specializes in ancient philosophy and science as well as recent history and philosophy of biology.

David Kelley: Responsibility and Happiness

In his article "The Entrepreneurial Life" (IOS Journal, December 1994), David Kelley showed why the most important problems of society are the product of a flight from responsibility, and why these problems cannot be solved by the conventional view of responsible behavior. In this lecture, Dr. Kelley discusses the Objectivist alternative—the entrepreneurial view of life. This view holds that responsibility must come from within, as a commitment to one’s own life and happiness, rather than from the outside, as a duty to God, family, or community. Responsibility in action flows from a sense of self-ownership, motivation by values rather than duties, and independence of mind.

Dr. Kelley is the Institute's executive director. He has taught philosophy and written widely on political and cultural issues.

Nell Robinson: The Primacy of Happiness

The Objectivist ethics is unique in advocating rational selfishness. If this principle is to make a difference in our daily lives, we need answers to the concrete questions addressed in this workshop. How do we identify the ingredients of personal happiness, the concrete values that give our lives meaning and direction? How do we sustain motivation by value rather than duty? How do we keep our actions connected to our happiness, rather than being driven by the pressures of everyday life? The exercises in this workshop will give participants the concrete experience of answering these questions for themselves in the context of their own lives and personal goals.

Nell Robinson, the workshop leader, is a theatrical producer, director, and teacher. During the past fifteen years, she has developed a series of workshops for non-actors, using acting techniques as a means of exploring students' creativity, spontaneity, motivation, and self-awareness.