James Taggart and Eddie Willers continue to argue over the failure of the Rio Norte line and Wyatt Oil as well as the railroad competitor, the Phoenix-Durango, which now has the Wyatt Oil business. We see how James is obviously moved by other than economic considerations and cold capitalism.
We will see this anti-capitalist perspective developed as we go on; I think this is the Looters & Moochers perspective, which is disguised by a loudly professed concern for fairness - the wolves in sheep’s clothing. I imagine the naive reader is being lulled by this argument for fairness and the aversion for cold considerations of money, which Ayn Rand will use to jar us liberals out of our complacent and misplaced sense of justice.
The first line is spoken by James Taggart, and he is referring to Ellis Wyatt, who switched to the Phoenix Durango because the Rio Norte line could not handle all of Wyatt’s oil.
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“What does he expect? That we drop all our other shippers, sacrifice the interest of the whole country and give him all our trains?”
“Why, no, he doesn’t expect anything. He just deals with the Phoenix Durango.”
“I think he’s a destructive, unscrupulous ruffian. I think he’s an irresponsible upstart who’s been grossly overrated.” It was astonishing to hear a sudden emotion in James Taggart’s lifeless voice. “I’m not so sure his oil fields are such a beneficial achievement. It seems to me that he’s dislocated the economy of the whole country. Nobody expected Colorado to become an industrial state. How can we have any security or plan anything if everything changes all the time?”
“Good God, Jim! He’s -”
“Yes, I know, I know, he’s making money. But that is not the standard, it seems to me, by which one gauges a man’s value to society. And as for his oil, he’d come crawling to us, and he’d wait his turn along with all the other shippers, and he wouldn’t demand more than his fair share of transportation - if it weren’t for the Phoenix-Durango. We can’t help it if we’re up against destructive competition of that kind. Nobody can blame us.”
-- “Atlas Shrugged” by Ayn Rand
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I think that second line is key: “Why, no, he doesn’t expect anything. He just deals with the Phoenix Durango.” This illustrates the virtue of capitalism. Wyatt does not bother with substantive expectations and airy promises. He just wants performance, and he will do business with anyone who can give him that performance. In focusing, even ruthlessly, on such narrow economic considerations, we see the true realization of social benefits for the larger society by the virtue of functioning and efficient businesses.