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More oxford books @ www.OxfordeBook.comFore more urdu books visit www.4Urdu.comA NEW CREDO OF FREEDOM 77Paterson warned against “planning” and “technocracy,” invoking themore commonly used collectivist buzzwords. She also advanced a differentkind of argument against organization. Rand used moral rhetoricabout individual rights to make her case, but Paterson tended toward thepractical, emphasizing that such planning simply could not work. Therewere several reasons why. Planners could never hope to determine thetrue value of goods and services, for such values were always in flux, aseconomic actors made individual decisions about what they wanted andhow much they were willing to pay. Moreover, planning would interferewith invention and innovation, the very engine of the economy; beforelong, there would be nothing left to plan. And finally, Paterson worried,who would do the planning?Paterson’s particular preoccupation was energy. When she and Randfirst met Paterson was working on the book that would become her onlywork of nonfiction, God of the Machine. She had been inspired by thedolorous Education of Henry Adams, and like Adams, she used energyas a central organizing metaphor. In Paterson’s scheme the dynamo wasindividual man, who alone could generate energy through thought andeffort. Energy could never be created by governments, but it could bedirected—or misdirected—by state institutions and structures. Moreoften than not government gummed up the works and stanched theflow of energy by interfering with individual freedom. Paterson hailedAmerican government as a triumph of engineering design, for the carefulbalance of power between the states, federal government, and a freecitizenry maximized the long circuit of energy released by individuals.She encouraged Rand to think not only about what made capitalism fail,but what made it succeed.Paterson also had a handy explanation for the Great Depression, onethat Rand would repeat throughout her later career. She was impressedby the analysis of the financial journalist Garet Garrett, who argued thatthe economic crisis had been brought about by government action. Inthe boom years of the crisis, Garrett argued, the Federal Reserve hadinflated the money supply, leading to a speculative bubble that triggeredthe Depression. 23 As Paterson watched the government’s efforts to repairthe damage she saw only more of the same. Government had mismanagedthe economy in the first place and was now making the problemworse through bungling efforts to fix it. The myriad shifting policies