Objectivism is a philosophical system developed by Ayn Rand in the mid-20th century. It emphasizes reason, individualism, and the pursuit of one's own happiness as the highest moral purpose. Objectivists believe that reality exists independently of consciousness and that individuals should use rational thought to understand the world and make decisions. In economics, Objectivism advocates for a free market system where voluntary trade and competition drive innovation and prosperity. It opposes collectivism and government intervention, arguing that such actions undermine individual rights and freedoms. Overall, Objectivism promotes a life guided by reason and personal responsibility.