The book takes place primarily in an industrialized, fictionalized version of the United States. There are a large number of companies competing against each other in various industries. Some companies have faltered, while others have grown. The "losers" have worked with the government to help protect their interests. Regulations and cartels are meant to prevent some companies from getting too big and ensuring that everyone has equal opportunity. There are even some individual factories that attempt pure "communism", with everyone getting paid what they need. Alas, this regulation just makes things worse. Companies find it is easier to get cozy with regulators than to provide viable goods and services. Colorado proves to be the exception, with businesses flocking there. However, the regulators put an end to that with taxes and regulation. Eventually, regulation gets out of hand, with companies "frozen" at their current levels and guaranteeing everyone jobs. There is little incentive to work. The only real responsibility people have is ensuring that they can't be blamed if something bad happens. The country is falling apart.
The heroes of the book are industrial magnates. Dagny Taggart knows how to run a railroad. Henry Reardon has created stronger, lighter steel alloy. Neither try to curry favor with politicians and are greatly persecuted. There are many others. Through the first two "books" of this book, characters often ask "Who is John Galt?" In the third book, we finally meet him.
The first two books present an indictment of the lazy "rent seekers" People that innovate and work hard help to improve the world. There are many lower-level employees that do the best they can at their jobs. There are also many others that are just collecting a paycheck. At the top, there are plenty of company leaders that do all they can to avoid blame rather than make difficult decisions. Communism in deed (if not name) is condemned due to the corruption it engenders. Sure, there are parts that sound good. However, in practice, it is a system that is easily manipulated by corrupt rulers. Corruption brings down almost all of society. A leftist reading of the book could easily read this as an example of a failed implementation of a system. (You could even argue it is a failure of fascism, as the "oligarchs" of industry are in cahoots with the government.) The "corrupt" bureaucrats are very similar to what we often see in society today. Seattle Public Schools seems to be the perfect epitome of the corruption in the book. The leadership does a great job of "saying nothing". There never seems to be somebody that takes responsibility for anything challenging. If things do get difficult, they just through out the word "equity" to try to bring down any opposing argument.
In the third book, we are introduced to John Galt's mountain utopia. Here all of the most creative leaders are living in peace and harmony. They can be greedy, yet still willing to do menial jobs to build up their local community. The titans of industry decamp to the wilderness to become hippies.
The book then proceeds to really go off the deep end. Everything is falling apart in society. However, the government does manage to build a highly destructive "Sound bomb." (This will eventually destroy the one railway bridge across the Mississippi.) The South American governments attempt to nationalize a copper mining multinational. However, right before the takeover is announced, all the mines and equipment are destroyed and all money is gone from all accounts. (But not until after all workers have been paid.) Things are looking really bad. To reassure the population a big speech is announced. However, right before the speech is to take place, John Galt takes over the airwaves and gives a three hour speech on the Ayn Rand's objectivism philosophy and the "leader strike". (This actually lasts three hours in the regular speed audiobook!) The speech blathers on and on and on. After the speech, the nation further falls apart. The government tries to track down Galt and get him to "fix" the economy. His suggestion is to back off. They won't do that. The nation further disintegrates. Galt's friends stage a commando raid to rescue him and go off to their Utopia.
Atlas Shrugged has some good ideas. It also has a lot of long-winded nonsense. Rand's philosophy seems to be taken up by libertarian leaders of industry. Yet John Galt spends most of his time as a regular laborer. He works hard at what he does, and doesn't aspire for more. Like in the Fountainhead, Rand shows respect for people that are willing to put their entire mind and effort into manual labor. The industry leaders that focus on providing a valuable service for people and the economy are also respected. The "greedy" bureaucrats that merely want to maximize profitability are pilorried.
The philosophy from the characters can be summed up as: "Work hard. Be true to yourself. Do what you feel is best. Don't try to dictate what other people should do." As part of this, you should seek out more knowledge to better understand what is best and be willing to change. Just because everyone else thinks it is right does not mean it is so. The book is very critical of both big companies and big government. Both are a drain on the economy when they focus on bureaucracy and status quo rather than societal improvements. Rand also has an interesting take on morality and religion. Characters engage in multiple marriages and affairs. Many will retain a marriage while knowing an affair is happening. Others use it as a means to stop. Religion seems to be a non-entity in her works. Both morality and religion are 'non-entities' in a world where people are focussing on their own personal gain.
Take out the third book and the philosophy that is indirectly expressed is fairly convincing. There is a strong condemnations of those that "mooch" on others. People can fall into systems because they expect to receive excess benefit. However, they don't realize that they could also be the one sacrificing their excess. The third book tries to drill home this and many other points. It reaches too far and adds too much to be believable. The in your face philosophising brings it down even further. The novel that starts out with a bunch of autistic industrial leaders ends with unbelievable superheroes living happily ever after.
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