Atlas Shrugged.

There is a book all thinking people should read. It is titled " Atlas Shrugged " and it was written back in the 1930's by Ayn Rand. This writer died in 1982.

The 1930's brought with it " the Great Depression " and Rand's book is a thinly disguised account of a world that has embraced this new philosophy - Communism.

It was very relevant at that time. The Russian revolution was a recent event and to many people state ownership made an attractive appeal. No more rich people ! No more struggling with a house mortgage. No more competing with others for a good job.

It would be the responsibility of the state to provide everything. It absolved the individual of the need to - think !

We have seen how Communism destroyed initiative and the " command economy " reduced incentive to a " one size fits all " mentality. It still only exists in a few backward regimes where sheer military force keeps it in power.

But an equally destructive idea overtook capitalism. Globalization emerged with the credo of sharing work to those people who did it best. As a consequence, production of goods went offshore to countries with big populations - and as a consequence - a very low wage structure.

The rich countries ceased to produce goods and this work devolved to the world's poor. To keep people employed the rich countries invented " social " industries which returned intangible benefits - but could not be traded externally.

The result was huge balance of payment debts, and to fulfill this trade desert the minds of the great and powerful devised artificial schemes which were based on foundations of clay.

In due course, natural attrition took hold - and capitalism finds itself in the mess we are facing today.

Ayn Rand was a perceptive woman and in Atlas Shrugged she has drawn a vivid picture of the events leading up to the present recession - which could easily repeat the depression of the 1930's.

The moral of her story is applicable to today. We can not consume more than we produce - and we have entered an age when production is constantly decreasing.

Rand's story ends on a happy note reminiscent of a child's fairy tale - but the events she describes bears a striking similarity to what is happening in the western world today !