The philosophy behind the book is good, the politics are stupid from whatever point you look at it. It typifies both stereotypes of capitalism, for the left wing 'capitalism = evil' and for the right wing 'capitalism = glorious'.
From a literary stand point, Rands work is the pulp fiction of politics. It plays the traditional stereotypes and helped make the woman famous (specifically in the USA, I believe the word is infamous elsewhere) without contributing anything truly new or unique to the discourse.
But it takes a much more friendly approach to some pretty heavy philosophical things. I and my friends moved from Rand to Emerson. Reading Emerson (or his contemporary Thoreau) at 16 is a pain unless you have motivation to read his thoughts, and Rand provides that motivation.
Ugh, such a gross misinterpretation. One of Rand's big points is that it doesn't matter what you're doing as long as you do it well. One of her physicists becomes a janitor, and when the misguided protagonist expresses horror at that, he says that there's nothing wrong in doing menial tasks.
Bob is incredibly stupid because he makes fun of something that Rand expressly says is a good thing. Furthermore, the Rearden parody ("I only know how to pay people to invent alloys") ignores that in the book, Rearden is the scientist who invents the alloy himself. He's portrayed as a very skilled mathematician. So it's a good parody IF you're okay with laughing at something that Rand never actually wrote.
This is a perfect testament to the masses of people who think they understand (and thus have license to lay valid criticism on) Rand because they read the first 30 pages of Atlas Shrugged.
I'm so sick and tired of hearing some pseudo-sophisto unload on Rand at a cocktail party, their insults and blind lambasting only to abate when confronted with questions about Rand's actual philosophy and works as opposed to her reputation.
From a literary stand point, Rands work is the pulp fiction of politics. It plays the traditional stereotypes and helped make the woman famous (specifically in the USA, I believe the word is infamous elsewhere) without contributing anything truly new or unique to the discourse.