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Writings based on Objectivism, the philosophy of Ayn Rand

Ayn Rand's most popular novels are Atlas Shrugged and The Fountainhead, which present her philosophy, Objectivism, in vivid characterizations.

  Metaphysics, epistemology, ethics, esthetics, and  politics are the five main branches of philosophy that she identifies. Utilizing her methodology, one can be rational about all aspects of life. These essays present my understanding of Objectivism.

Older Essays

This is Your Mind

Independence Day Special 2005

Copyright Issues Statement

Independence Day Special 2011:

 Jesus or Ayn Rand?

Don't Blame Wall Street

Governments and Individual Rights

Anarcho-Capitalism rebuttal

Doctors and Individual Rights

Internet Freedom VS On-line Piracy

Laws Must be Specific to Preserve Freedom

To Students of Objectivism

Kant as Founder of Modern Art

Thinking in Terms of Principles

The Purpose of Art

On Objectivity -- The Method of Thought

Applications of Philosophy

Happiness by a Proper Standard

Morality and War

Induction and Anarchism

Immigration and Applied Egoism

Independence Day 2012:

  Losing the Battle

On Civil Society

Batman and Justice

Paul Ryan and Objectivism

Philosophy in the Workplace

Articulating Freedom

The Argument for Freedom

Psycho-epistemology

Black Friday Special, The Morality of Profit

Intellectual Property Rights

How The Internet Works

Carnegie Museum of Art and Natural History

The Morality of Copyrights and Patents

Justice

Freedom of Speech -- a Sacred Right

Objective Value

Teleological Measurements

Induction

Causality

Cognition

Ayn Rand as a Moral Hero

Moral Integrity

On Dualism

Protest NSA Spying

The Objectivist Trilogy

The DIM Hypothesis

Tolerance and DIM

Individual Rights

How We Know

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date: Sat, 10 Mar 2001 
Optimum Price of Gold
Thomas M. Miovas, Jr.

In an ideal world that had an exacting gold standard, or better yet, used 
gold as money, the relationship between gold and dollars would remain 
constant -- but not because gold would be at an optimal price set by the 
market or a fixed price set by the government, but rather because a certain 
quantity of gold would be called the "dollar." In other words, there would 
not be a dollar price for gold -- not in the current usage of those terms.

Just as a twelve inch length of metal (with marks on it) is called the 
"ruler," so a fixed quantity of gold (with certain marks on it) would be 
called the "dollar." The marks on that piece of gold would indicate the 
amount of gold (in units of weight) *and* what it is called (i.e. One 
Dollar, Five Dollars, Ten Dollars, etc.).

To make this more clear, these days an ounce of gold is about $300, so 
1/300th of an ounce of gold would be called "One Dollar." On one side, 
there would be a mark saying "1/300th of an ounce of gold" on the other 
side would be a mark saying "One Dollar." From that point on, that 
relationship would be fixed in the same way and for the same reason that a 
twelve inch length of metal with marks on it is called the "ruler" (or if 
you prefer, "the twelve inch ruler").

[Tom Miovas: The issue was raised as to whether or not a particular
quantity of gold would be called "the dollar" as legally set by
the government. In a capitalist governmental system, there would have
to be some sort of established weights and measures to help prevent fraud.
That is, I think it would have to be inforceable by law that 1/300 of an
ounce of gold (in my example) would be called "the dollar" and not 1/100th
of an ounce of gold by some banks and not 1/200th of an ounce of gold by
some other banks; even though the banks themselves would be minting the
gold into coins rather than the government. Otherwise, qua weights and
measures the unit of money ("the dollar") would be arbitrary.]


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Thomas M. Miovas, Jr.

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Proud to be an Objectivist -- one who follows Ayn Rand's philosophy of Objectivism: I've earned it.