I appreciate your analogy, however - it bears little resemblance to the way business is run today. Luck is always subsumed by shrewdness.
I’m not sure what you mean by “shrewdness”. It can be a virtue. Business people are “street-smart”, which means they understand that life is not simply about having thoughts an ideas, but in figuring out how to put them into action. They may not be the Phds., but – on average – they can spot a good idea and pay for it, they can figure out how to implement it, they have the drive to overcome obstacles, they have the self-confidence not to let rejection put them off their course.
These are all great human virtues, and if these had disappeared, we would not have today’s world of easy-living, with fascinating stuff all around us.
If such a member were to use an inheritance to gain the upper-hand in a market - knowing that his competition would be wiped out in the exchange, it should stand as a fundamental transgression of the moral value of objectivism - making it something ‘other’ than objectivism.
The notion that people can use wealth to beget wealth in some sort of automatized way is false. Inherited wealth disappears in a few generations. Essentially, many heirs are distributing that wealth to others while enjoying it themselves. In today’s global economy there is no market position that can be maintained primarily through the use of size/wealth and still remain profitable. There is no shortage of capital ready to flow to a good, promising competitive idea. Companies too do not stay at the top for more than a few generations – at best. In fact, this is becoming ever shorter. Look attop-5 retail chains: every 10 years, one of them loses their top-5 rank. More importantly, the ones that remain do not do so because they have financial muscle. They do so because they understand their customers, they understand what their customer will value, and they find a way to deliver it at as low a cost as possible.
… …I would love to see a living example of pure objectivism.
Like you, I would like to see many more Objectivist businessmen. They exist and they run businesses. Objectivists are a small fraction of the population, and therefore Objectivist businessmen are a small fraction of businessmen. However, your concept of what it takes to be an Objectivist might reject such people.
I know that it is an ideal and as such, can only work in a morally ideal environment.
There’s a bit of chicken-and-egg here, because I read it to say “Objectivism can only survive if people agree with Objectivism”.
Stepping back, I’d like to make a broader point: do you think Steve Jobs enjoyed his work and made money? what about Bill Gates of old? and people in finance, like John Paulson to pit their intellect against the market? and Sam Walton? If you think these people were happy, and if you accept Objectivism’s idea that happiness is a legitimate goal, then you should question how they achieved happiness without being Objectivists. Also, ask how you can do more of the things they did. Objectivism is not about spending one’s life contemplating the state of the world, while a guy in India who accepts a few mystical ideas also enjoys building his business and thriving. You have just one life, and this is personal. The “test-question” to yourself is: when you look back at your life in retirement, will you say you’ve used your few years on earth the way you really wanted to?