Eddie Willers, an employee of Taggart Transcontinental Railway, on the streets of New York. A vagrant approaches Eddie and asks, "Who is John Galt?" Eddie avoids the question and goes to the office of James Taggart, the president of the railway company. James Taggart is described as indecisive and unattractive. It's revealed through Eddie's flashbacks that they were childhood friends and that Eddie's family had served James's ancestors.
Eddie discusses the problems with the company's new line, the Rio Norte Line, with James. The line is facing financial issues, and Eddie suggests getting track from Hank Rearden's steel company to resolve the problem. James resists, favoring a company owned by his friend. This decision sparks a heated argument between them. As Eddie leaves the office, he encounters Pop Harper, who cryptically asks, "Who is John Galt?"
The focus shifts to Dagny Taggart, James's sister, who's on a train heading to New York. She's tired but determined. She hears music, which she mistakes for a symphony, but it turns out to be the brakeman's whistling. Dagny interacts with the train's crew to ensure it reaches its destination on time, reflecting her strong leadership.
In New York, Dagny and Eddie confront James about the Rio Norte Line crisis. Dagny decides to order the needed rails from Hank Rearden's company, sparking disagreements with James. Dagny also has an encounter with Owen Kellogg, who cryptically asks, "Who is John Galt?"
Hank Rearden, the owner of Rearden Steel. He's elated about the first pouring of his new alloy, Rearden Metal. Hank's family, including his wife Lillian, brother Philip, and friend Paul Larkin, is waiting for him at home. They have a somewhat uncomfortable exchange where Hank's accomplishments are undermined by his family's attitudes.
Hank gives Lillian a bracelet made from the first pouring of Rearden
Metal, but she mocks it. Lillian's discontent with Hank's focus on his work becomes evident. Paul advises Hank to hire a public relations expert to improve the company's image. Philip seeks financial support from Hank for dubious causes, and Hank reluctantly agrees, undermining Philip's pride. Throughout these interactions, Hank's mother criticizes his actions and character.
Meeting at a high-end bar in New York, involving Orren Boyle(president of Associated Steel), James Taggart, Paul Larkin, and Wesley Mouch. Their discussion revolves around civic duty, the San Sebastian line(a railway project in Mexico), and potential conspiracies against Hank Rearden.
Afterthe meeting, Dagny Taggart reflects on her childhood dreams of running Taggart Transcontinental. She started working there as a night operator at sixteen, excelling in operational and mechanical tasks. Despite her competence, her brother James is appointed president after their father's death. However, Dagny's father had wanted her to take over the company, recognizing her capabilities.
The San Sebastian line is built to transport copper from Francisco d'Anconia's mine, despite Dagny's opposition. Francisco is a wealthy Argentinean playboy, and the project's riskiness is evident due to Mexico's communist regime.
Dagny leaves the Taggart office after a disagreement with James regarding the San Sebastian line's outdated coaches. She reflects on the founder of Taggart Transcontinental, Nat Taggart, and the future of the company. Eddie Willers converses with a railway worker about Dagny's interests and the Rio Norte Line.
Dagny facing difficulties with her contractor, MacNamara, who quits a crucial job. Walking home, she observes the societal decay and encounters a book titled "The Vulture Is Molting." She listens to the music of Richard Halley, a composer who retired after achieving success.
Jim Taggart wakes up with a headache after spending time with his girlfriend, Betty Pope. They discuss Taggart Transcontinental and Betty's dislike for Dagny. Jim addresses the Board of Directors, taking credit for Dagny's recommendation to run fewer trains on the San Sebastian line
due to the risk of nationalization.
The National Alliance of Railroads introduces the Anti-dog-eat-dog Rule, causing Dan Conway's railway to fail. Dagny tries to convince Conway to fight the rule, but he's disillusioned. Ellis Wyatt, an oil magnate, meets with Dagny, upset about the Phoenix-Durango's destruction. They agree to cooperate for their mutual benefit.
Dagny and Hank Rearden discuss the delivery of Rearden Metal for Taggart's Rio Norte line. The material's properties and potential are discussed, and Rearden mentions the importance of spiritual goals. Their conversation emphasizes their role in shaping the world.
Dagny Taggart is deeply concerned about the nationalization of the San Sebastian mines, a significant project associated with Francisco d'Anconia, due to its impact on Taggart Transcontinental's revenue. She decides to meet Francisco to discuss the situation. Their history is then recounted:
Francisco's family has been friends with the Taggarts, and he spent summers with Dagny and James. Dagny and Francisco share a strong friendship and similar ambitions. Both are driven by their family businesses and considered themselves "crown heirs" of the new aristocracy of money.Despite this, Francisco sees Jim as weak and unprincipled, whereas he, Dagny, and Eddie share a determined mindset.
Francisco, heir to a long line of d'Anconia copper barons, possesses intelligence, wealth, and charisma. During their youthful years, he, Dagny, and Eddie compete in various challenges, with Francisco being the leader. They grow to value productive purpose and despise aimlessness.
Francisco takes a job at Taggart Transcontinental to outdo Dagny's achievements, embracing the motto "what for?" He is relentlessly inquisitive, encouraging others to question assumptions. His friendship with Dagny deepens as she excels in her engineering studies and railway work, driven by her desire to honor her ancestor Nat Taggart.
Dagny experiences a formal debut in New York, but her focus shifts from social events to deeper matters. Francisco visits her during her
night operator shift, and their relationship blossoms into a secret love. This continues for years, even after Francisco's father's death and his return to run d'Anconia Copper in Argentina.
Eventually, Francisco ends their relationship for unknown reasons, advising Dagny not to be surprised by his future actions. In later years, Dagny reads about his supposed transformation into a depraved playboy. She reflects on this history as she prepares to meet him again at the Wayne-Falkland Hotel.
During their meeting, Francisco and Dagny discuss the nationalization of the San Sebastian mines. Dagny is puzzled by Francisco's apparent transformation and seeks to understand his actions. Francisco challenges her to avoid making assumptions and highlights the theme of "Non-Contradiction," leaving Dagny in confusion.
Hank Rearden is apprehensive about attending his wedding anniversary party with his wife, Lillian, who associates with "looter" philosophers. Dagny attends the party and shares a moment with Hank regarding Rearden Metal's progress.
The Equalization of Opportunity Act, which limits businessmen to owning only one business, is discussed at the party. Hank and Dagny realize this law will affect Rearden's ability to create Rearden Metal. Intellectuals like Bertram Scudder and Dr. Pritchett support this law and express their moral relativism.
Francisco unexpectedly arrives at the party and converses with Hank about business and the looter government. Francisco tries to convey principles to Hank to combat the looters' ideology, challenging Hank's perception of "selfishness." Hank is intrigued by Francisco's ideas but remains critical of his playboy reputation.
Dagny supervises the construction of the Rio Norte Line in Colorado, managing the new contractor after McNamara's departure. Ellis Wyatt, whose company benefits from the newline, visits the construction site, and they share mutual admiration. Hank Rearden is also present and discusses the potential of building a bridge using Rearden Metal, which would be lighter and stronger than steel. However, the public's skepticism about this unproven material poses a challenge.
Back in New York, Dagny and Jim head to a business council dinner where Dagny is supposed to speak. She learns it will be a radio debate against Bertram Scudder on whether Rearden Metal is a product of greed. Feeling deceived, she abandons the taxi and walks to a coffee shop. There, she converses with a downtrodden man who believes man lacks intellect and virtues.
In Rearden's office, Dr. Potter from the State Science Institute tries to discredit Rearden Metal. He offers Rearden approval if he takes the metal off the market for two years. Rearden declines, leading Potter to propose purchasing the metal's rights. Rearden refuses, and Potter warns of a forthcoming condemnation from the Institute. This condemnation negatively impacts Taggart stock, prompting Dagny to meet with scientist Robert Stadler to seek his support. Stadler, once esteemed, is now aligned with the government's control.
The public denouncement forces Dagny to form her own company, the John Galt Line, to continue the construction of the Rio Norte Line using Rearden Metal. Hank's mother visits him, urging him to employ his wastrel brother, Philip, which he refuses. Hank also realizes that Wesley Mouch, his contact in Washington, has joined the looter government, signaling further challenges.
Eddie discusses Dagny's new venture with a railway worker during dinner. Despite challenges, Dagny perseveres with the John Galt Line. She encounters a mysterious man outside her office, leaving her uneasy.
The plan is set to test a Diesel engine on the Rearden Metal track and bridge. Dagny seeks volunteers from her employees, all of whom are eager for the opportunity. During the test run, Dagny and Hank ride in the engine's cab to demonstrate their confidence. Due to the Equalization of Opportunity Act, Hank transfers his non-steel businesses to others.
The test run proves successful, reaching speeds over 100 mph, and Dagny and Hank are elated. Ellis Wyatt hosts them for dinner, and Hank admits his feelings for Dagny. Their passionate affair begins, even though Hank is married.
After Hank and Dagny's first night together. Their conversation is filled
with conflict and confusion. Hank admits to feeling contempt for himself and Dagny,acknowledging his struggle with breaking his marriage vows. Dagny, defiant, states her pride in their affair, considering it an achievement on par with building the John Galt Line. They agree to keep their relationship private but continue with their arrangement, leaving Hank conflicted and Dagny determined.
In New York, Jim Taggart visits a store and encounters Cherryl Brooks, who views him as a populist hero for the success of the John Galt Line. They go on a date, and Jim's respectful behavior surprises Cherryl.
Dagny and Hank return to the East Coast and continue their business lives, maintaining their arrangement. They take a vacation in Hank's car, during which they discover a ruined factory and a potential revolutionary motor. Dagny wants to find the inventor and bring the technology to the world.
Dagny searches for the motor's inventor in Wisconsin but faces resistance. She returns to New York due to impending laws that would negatively impact Taggart Transcontinental's operations. These laws seek to limit successful railroads and harm the industry.
Hank is deceived by his friend Paul Larkin, who undermines Hank's ore supply by making deals behind his back.
Dagny follows clues to a rural coffee shop in Colorado, where she meets Professor Hugh Akston. She learns he knows the inventor of the motor but refuses to reveal the information. He gives her a cigarette with a unique symbol.
A special tax imposed on Colorado angers Ellis Wyatt, a significant contributor to the state's revenue. In protest, he sets his oil wells on fire and disappears. The burning wells are nicknamed "Wyatt's Torch" and burn for a long time.
Dagny's visit to Dr. Robert Stadler of the State Science Institute. She seeks information about the inventor of the static-electricity motor. Stadler, part of the Institute that denounced Rearden Metal, refuses to help, but mentions Quentin Daniels as a possible candidate. Dagny plans to hire him for her private project.
As the Western economy deteriorates, Dagny realizes that the Rio
Norte Line's freight traffic is declining. Major companies in the region are facing bankruptcy or losing executives.
Rearden Metal faces new challenges due to its success. The government's interference includes restrictions on sales and customers. Hank angers the government by refusing to supply Metal for Project X, a secretive venture.
Dagny suspects a hidden force, "the destroyer," causing talented individuals to abandon their work. To counteract this, she employs Quentin Daniels, who agrees to work onher project.
Cherryl Brooks and Jim Taggart become engaged, driven by Cherryl's admiration for Jim's facade. Hank reluctantly attends the wedding reception at Lillian's request. Francisco d'Anconia mocks Jim for his role in destroying the copper industry and suggests d'Anconia Copper's potential difficulties.
Amid the chaos, Francisco delivers a speech praising the role of money in exchange and clarifying its connection to values and happiness. He hints at a hidden purpose behind his actions, leaving Hank intrigued.
Lillian Rearden visits Hank at the Wayne-Falkland Hotel and confronts him about his affair with Dagny. Their marriage is strained due to Hank's neglect and Lillian's party guests who attacked Hank's business.
Hank faces consequences for refusing to sell his Metal to the State Science Institute. Dr. Floyd Ferris threatens to prosecute him for illegal sales to Ken Danagger. Hank's refusal shows the government's illegitimacy.
Francisco d'Anconia visits Hank and discusses their roles in the current state of the business world. They talk about the mysterious group's plan to halt the economic engine, symbolizing Atlas shrugging.
Dagny rushes to see Ken Danagger, but he decides to retire due to the looming threats. The concept of "The Sanction of the Victim" is explored as Hank faces trial. Hank exposes the lack of objective rules in court, refusing to provide the "sanction of the victim."
Hank visits Francisco to discuss his surprising nature. They engage in deep conversations, and Hank realizes the persona portrayed in the papers differs from the real Francisco.
Hank orders copper from d'Anconia Copper, but Francisco's warning that he's Hank's friend rings hollow when Hank's shipment is sunk by the pirate Ragnar Danneskjold.
Economic troubles abound as Ken Danagger's cousin informs Taggart Transcontinental about shipment delays and economic decline. Rearden Steel faces unprecedented challenges, defaulting on an order. The government dismisses the significance of businesses and industries.
Amid a harsh winter, suffering escalates, but the government refrains from stimulating the economy. A belief in favoring smaller concerns over larger ones leads to the downfall of non-favored businesses.
Ragnar Danneskjold's piracy disrupts copper shipments from d'Anconia Copper, severely affecting numerous industries.
Dagny participates in a board meeting discussing the Rio Norte Line's closure due to freight traffic problems. Government meddling and blackmail force the decision, exposing the absence of justice.
In the wake of the John Galt Line's loss and societal shifts, Francisco d'Anconia provides solace to Dagny. Their conversation delves into their ancestors' legacyand the enigma of John Galt.
Overseeing the final train run on the John Galt Line, Dagny faces disgruntled people blaming the rich for the poor's plight. Rearden supports her during this emotional ordeal, and they return to New York together.
Lillian Rearden's conversation with James Taggart revolves around their failure to control Hank. Lillian discovers Hank's mistress and believes he's traveling with her. Waiting at the Taggart Terminal, she witnesses Hank and Dagny, realizing the truth but vowing not to divorce him.
Directive 10-289, marking America's complete shift into an authoritarian socialist state. The directive's eight points control different economic aspects.
Upon learning about the directive, Dagny promptly resigns from Taggart Transcontinental to evade its influence. She withdraws to a secluded cabin to escape the impending changes.
Hank Rearden faces coercion by Dr. Floyd Ferris to surrender the
Rearden Metal patent to the state. Ferris threatens to expose Hank's affair with Dagny, revealing Lillian as the source. Hank reluctantly signs the Gift Certificate to shield Dagny from disgrace.
Eddie conversing with his railway-worker friend at the Taggart Terminal cafeteria. Eddie discusses the railway's challenges due to the government's unreasonable demands. The friend reveals he's going on a month-long vacation, hinting at his unusual financial ability.
Hank Rearden initiates divorce proceedings against Lillian, desiring no financial settlement for her. He moves out and rents an apartment in Philadelphia.
Hank encounters Ragnar Danneskjold, a famous pirate, one night. Ragnar offers him a bar of gold and reveals his identity as a pirate. He shares Hank's income tax records and leaves the gold, despite Hank's refusal.
The Taggart Comet faces trouble, carrying government officials. With coal engines and a lack of diesel, disaster looms. Kip Chalmers, a ranking official, forces the train through the Taggart Tunnel, leading to fatalities and destruction.
Sees Francisco visiting Dagny at her cabin after a month of solitude. Their reunion is affectionate, but he urges her to stop fighting against the looters. Dagny, however, rushes back to her job after learning of the Taggart Tunnel disaster. She maintains transcontinental traffic by creatively connecting tracks, with support from Hank.
Dagny and Hank realize the looters exploit their dedication to their work. Jim Taggart's morale is boosted by Dagny's return, while Dagny and Hank's relationship resumes, despite Hank's earlier signing of the Gift Certificate.
Francisco returns to Dagny's apartment in an attempt to persuade her to adopt his perspective on thelooter government. However, Hank arrives unexpectedly, witnessing their intense discussion. Mistakenly thinking that Francisco is pursuing Dagny romantically, Hank strikes him.
During their conversation, it's revealed that Dagny was Francisco's first lover, though there's currently nothing between them. Francisco explains a "destroyer" is influencing industry leaders, and reveals that he's not the destroyer.
Dagny receives a letter from Quentin Daniels stating he'll quit working on the static electricity motor due to Directive 10-289. Dagny leaves to persuade him to continue. Eddie visits her apartment and notices Hank's dressing gown, realizing Dagny's affair with Hank.
Eddie confides in the mysterious railway worker about Dagny's mission to convince Daniels and her relationship with Hank. The worker reacts unexpectedly and leaves abruptly.
Dagny meets a tramp named Jeff Allan on a train. She learns about the collapse of the Twentieth-Century Motor Company due to collectivist policies. The train becomes stuck, passengers complain, and Dagny organizes rescue efforts. Owen Kellogg helps her walk to a nearby phone for help, but Dagny decides to fly a rented plane to reach Quentin before he's taken away. She instructs Owen to inform Hank and Eddie about the situation and provides a job for Jeff Allan. Dagny notices a cigarette with a gold dollar sign, similar to one Hugh Akston gave her.
Dagny flies to Utah to locate Quentin at the Institute of Technology but finds he's left with another man in a plane. She follows them into a mountainous area and crash-lands on an unexpected grass field, losing consciousness while exclaiming, "Who is John Galt?"
Dagny making eye contact with John Galt, the man she has been pursuing. He rescues her after she crash-lands her plane in a hidden valley known as Galt's Gulch. This valley is hidden from the outside world by a ray-shield, and its residents have been on strike against the looter government for twelve years. Dagny learns that many influential figures, including Ken Danagger, Midas Mulligan, Ellis Wyatt, and Francisco d'Anconia, have helped create this self-sufficient enclave.
Dagny discovers John Galt's static-electricity engine, which powers the valley. She learns that everyone in the valley lives by the credo: "I swear by my life and my love of it that I will never live for the sake of another man, nor ask another man to live for mine."
John Galt refuses to let Dagny leave the valley until the vacation month is over. Dagny offersto work as a paid cook and housemaid, and her offer is accepted. During her stay, she interacts with various valley residents, including Francisco, who confesses his actions against the looter government.
Dagny's feelings for John deepen, but she can't stay in the valley while clinging to the outside world. She refuses to be labeled a "scab" by the valley residents and decides to return to her work.
Dagny realizes she must make a choice between staying with John in the valley or returning to the outside world. She remains committed to her work and leaves the valley after their month together.
Robert Stadler's perspective as he witnesses a government demonstration of "Project X," a weapon of mass destruction developed from his earlier research. Back in New York, Dagny struggles with Cuffy Meigs's arbitrary decisions at Taggart Transcontinental.
Lillian Rearden pressures Dagny to give a radio address about her affair with Hank Rearden, threatening to expose it if she doesn't comply. In response, Dagny decides to preemptively announce the affair herself on Bertram Scudder's radio show, damaging the government's leverage over her.
When Dagny and Hank meet, they mutually understand that their affair is over, and they part ways amicably.
Earlier, Jim Taggart's actions, driven by his greed for d'Anconia Copper stock profits, had severely damaged the copper industry. With the help of Francisco d'Anconia and Ragnar Danneskjold, the importation of copper to the US is disrupted, leading to a crisis.
Jim Taggart comes home to his wife Cherryl and attempts to assert his dominance. Jim is elated because d'Anconia Copper is about to be nationalized by South American governments, which will benefit him financially. Despite this, Cherryl, having gained knowledge about Jim's true nature, confronts him about being a fraud and a looter. She seeks solace and support from Dagny, who confirms her suspicions about Jim. Meanwhile, Lillian Rearden visits Jim and they engage in a depraved encounter.
Cherryl confronts Jim about his intentions in marrying her, leading to a revelation that he married her to destroy her potential and keep her dependent. In an emotionally charged exchange, Cherryl accuses Jim of being a killer, and in her despair, she tragically takes her own life by running into a river.
Delves into the copper crisis affecting Taggart Transcontinental. The shortage of copper disrupts electrical equipment and communications, creating panic. As d'Anconia Copper is nationalized on September 2nd, chaos erupts in financial markets.The company's decline is symbolized by a message projected on a calendar screen, indicating Francisco's intentional destruction of the company.
The food crisis worsens as Kip Chalmers' mother's soybean scheme diverts freight cars from the Minnesota harvest. Food shortages lead to anarchy, with desperate farmers trying to transport their crops by any means necessary. At Taggart Terminal, Dagny faces a crisis when the interlocking traffic system fails due to worn-out copper wires. Dagny's resourcefulness and quick thinking help her manage the situation. She encounters John Galt among the track laborers and later makes a passionate connection with him in the tunnels.
Escalating violence threatens the country, particularly in Hank Rearden's steel mills. The government's actions, including temporarily seizing Hank's property, aim to exert control over him. Hank's family pleads with him to stay and not abandon them. The government's attempt to place Hank's company under a Unification plan is met with resistance. During a riot at his steel mills, Francisco D'Anconia saves Hank's life.
Hank Rearden retiring from Rearden Steel, prompted by the chaos caused by his departure and the ongoing crisis in the nation. Being the only reliable producer of industrial metal, his departure leads to panic and riots, causing the nation to descend into turmoil. Dagny learns of Hank's defection and his departure without property deeds or money. A week later, she receives a note from him confirming his arrival in the secret valley.
The crisis worsens, and media outlets announce an important radio
address by Mr. Thompson, the head of State, on November 22nd. Dagny brings Eddie Willers with her to the broadcasting studio, fearing the worst. However, someone hijacks the airwaves, and at exactly 8:00, John Galt takes over the broadcast, addressing the national crisis. John's speech spans sixty pages, emphasizing objective reality, the value of human minds, and the goodness of humanity's desires. He details the work of himself, Francisco, and others in halting the world's motor, explaining the concept of "the strike" to combat societal decline. He denounces government coercion and calls for rationalism, rejecting religion and emphasizing rational choice as the highest value.
John promotes self-interest as the motivating principle and discusses the end of the principle of being each other's keepers. The populace, fed up with the consequences of such policies, resonates with John's message. Mr. Thompson eventually attempts to negotiate with Galt to work for the government.
John Galt, recognizing the influencehe wields. Meanwhile, Eddie worries that Dagny might quit, but she decides to stay and fight for the railway, determined to uphold her legacy. Knowing John's location, Dagny goes to warn him about the raiders and government spies. Galt instructs her to act as though they're at odds to avoid suspicion. Later, she receives a reward for reporting John Galt's location.
The government captures Galt and coerces him into running the nation's economy. However, when they broadcast John Galt accepting this role, he reveals that he's being compelled by force, further inciting unrest and civil war across the country.
Robert Stadler's perspective as he hears John Galt's broadcast on the radio. Disillusioned and regretful about his choices, Stadler realizes his misjudgment of John Galt, a former student he considered like a son. Feeling that he can't align with the looters anymore, he decides to seize power by taking control of the Project X weapon's installation. Cuffy Meigs, also recognizing the impending downfall, confronts Stadler, resulting in a struggle. In the chaos, the Project X weapon is activated, causing widespread destruction, including the destruction of the Taggart Bridge.
Dagny is aware that the looters are attempting to coerce Galt and calls on Francisco for help. She learns about the destruction of the Taggart Bridge while on her way to meet Francisco.
Galt is taken to the State Science Institute in New England and subjected to torture using "Project F." Jim Taggart is present and helps the torturers, but he realizes the evil he's been a part of and experiences a crisis of conscience. Galt's calm response intensifies Jim's realization of his wrongdoings, and he collapses mentally.
Francisco, Dagny, Ragnar, and Hank Rearden join forces to rescue John from the Institute. Using their names and forceful personalities, they overpower the guards and bring John to safety in a plane, taking him to the secret valley.
Meanwhile, Eddie Willers has been working to restore transcontinental traffic after the looters took over the San Francisco station. Despite his efforts, he faces mechanical issues and ends up stranded.
As the government collapses, Galt decides that his group of producers should leave the valley and rebuild the world. Judge Narraganset writes a constitution for the new state, and Francisco, Dagny, and Hank plan for the industrial future. John declares that the path is clear for their return to the world, gesturing the sign of the dollar as asymbol of their purpose.