Jerry Kirkpatrick

The purpose of this paper is to present the essence of Ayn Rand's theory of rational egoism and to indicate how it is the only ethical theory that can provide a foundation for ethics in business. Justice, however, cannot be done to the breadth and depth of Rand's theory in so short a space as this article; consequently, I have provided the reader with a large number of references for further study. At minimum, Ayn Rand's theory, because of its originality and challenge to establishment theories, should be included in all business ethics courses and discussions of business ethics.

In Defense of Advertising is a theoretical defense based on the philosophy of Ayn Rand and the economics of Ludwig von Mises. It argues that the proper foundations of advertising are reason, ethical egoism, and laissez-faire capitalism. Its theme is that the social and economic criticisms of advertising are false because they are based on a false philo­sophic and economic world view. Only an alter­native world view can refute the charges and put forth a positive moral evaluation of advertising's role in human life. The author defends advertising because it appeals to the rational self-interest of consumers for the rationally selfish, profit-making gain of the capitalists.