Summary from [link|http://en.wikipedia.org/wiki/Objectivism_%28Ayn_Rand%29|Wikipedia]
Objectivism holds that there is a mind-independent reality; that individuals are in contact with this reality through sensory perception; that humans gain objective knowledge from perception by measurement, and by forming concepts that correspond to natural categories by measurement omission; that the proper moral purpose of one's life is the pursuit of one's own happiness or "rational self-interest;" that the only social system consistent with this morality is full respect for individual human rights, embodied in pure, consensual laissez-faire capitalism; and that the role of art in human life is to transform abstract knowledge, by selective reproduction of reality, into a physical form - a work of art - that one can apprehend and respond to with the whole of one's consciousness.

At it's core objectivism of Ayn Rand's style is not an entirely bad idea. But the application is hopelessly marred by a critical flaw.

The objectivists place far too much trust in their 'objective' observations and deductions. They feel that because they are using 'objective' knowledge and reason they can hold their beliefs with the kind of rigidity of mathematical reasoning. This is the underlying flaw that leads to most of the other problems.

This is what turned a lot of objectivism into a cult. Because Ayn Rand's deductions are obviously and objectively correct, if you don't agree then there must be a flaw in your thinking. A true believer can dismiss any objection or flaw with exactly the same kind of twisted logic that religious fanatics use. And this of course means that Ayn Rand's other mistakes are carved into stone as far as the followers are concerned.

In some ways, what I believe is fairly close to objectivism. But I have transplanted a healthy respect for human flaws and bias into the place where objectivists have blind faith in reason. Once you do that everything else falls into place.

Without the blind adherence to Rand's own statements, you can eject the sillier bits about objective art and such. And once you understand that humans don't always act in their own best interest and that the best interests of everybody can conflict with individual desire, the extreme libertarian posistion falls apart.

Jay