It is false. This branch pertains to the study of the proper social system for humans to live in. The choice here is between individualism and collectivism. Ayn Rand believed in laissez faire capitalism. This means that capitalism is the only system that allows each individual to be free to use his mind to think, act on his own rational judgement, and produce the values that his life requires.
Capitalism is the system that recognizes and protects individual rights.
Individual rights include the right to life, liberty, the pursuit of happiness, and private property. Capitalism bans the initiation of force from all human relationships. This means, of course, that things like murder, rape, and burglary are illegal, but it also means that the government's use of the initiation of force is banned. Under laissez faire capitalism, all the government alphabet agencies would be abolished. The alphabet agencies include the EPA, FDA, FAA, OHSA, SSA, FCC, IRS, among others.