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Midas Mulligan and Andrew Mellon Did Ayn Rand base her character Midas Mulligan on Andrew Mellon? I recently came up with this question reading The Forgotten Man: A New History of the Great Depression by Amity Shlaes and, from Shlaes's description, it sure seemed plausible. Ayn Rand lived through the Great Depression and Mellon's name was everywhere in the culture up to and after that time. We know Rand often based her fictional characters on elements of real-life people. This was part of her literary technique. A famous example from her youth is killer William Edward Hickman. S