PERSONALITY: The Chairman's Favorite Author

At one of the preliminary conferences leading to this week's summit on inflation, John Kenneth Galbraith looked over the 28 other economists who had gathered in the White House and quipped that the remedies for inflation would be about the same for "Bolsheviks and the devoted supporters of Ayn Rand, if there are any present." Then Alan Greenspan smiled and spoke up: "There's at least one."

So there was. The new chairman of the President's Council of Economic Advisers is a longtime friend and disciple of Ayn Rand, the Russian-born author whose...

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