Friday, March 17, 2006
The greed factor
Adam Smith in An Inquiry into the Nature and Causes of the Wealth of Nations postulated that an "invisible hand" propels the economy of nations based on self-interest. He did not argue that self-interest is always good; he merely argued against the view that self-interest is necessarily bad. He criticized those who act purely out of self-interest and greed, and warns that, "[a]ll for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind." Smith believed that while human motives are often selfish and greedy, the competition in the free market would tend to benefit society as a whole anyway (Wikipedia.org).
From my limited experience I observe that greed (or self-interest) motivates many of our society's actions. Greed has made capitalism great and greed destroyed communism. We see greed for money, greed for power, greed for affection, greed for fame, greed for self-satisfaction. As children, we seek our parents' affection. As adults, we seek recognition of other kinds. Advertisers use the word "need" and say it is what motivates us. We have basic needs which once fulfilled motivate us to go after wants. Maslow described these wants as higher order needs.
People (as do animals) kill to meet their basic needs when these basic needs can't be fulfilled by other means. And, yes, although people may kill so their children can eat (or even eat their children to feed themselves), more people kill to satisfy their greed for wants. Thus, as a nation we kill to satisfy a greed for safety and security (or is it oil) and we are being killed in turn based on a greed to preserve an archaic way of life.
Greed for money and the power it buys is what propels capitalism. And as Adam Smith believed this greed (or self-interest) also benefits society. However, it can also be the destruction of our society. Because of greed, the media giants quash free speech and diversity of opinion. (Look at what happens in a news room when a media chain buys a family owned newspaper.) Because of greed, governments support the evils of gambling at the behest of lobbyists who are equally greedy. Because of greed, tobacco and liquor companies continue to sell their addictive products to the detriment of all. Because of greed, pharmaceutical companies produce and sell dangerous and unneeded drugs. Because of greed, doctors peddle drugs and people buy them in hopes of a quick fix. Doctors also operate when its not necessary. (I have a scar and am left with only one lung as proof.) Because of greed, farmers put harmful pesticides on crops and growth hormones into cattle. It is because of greed that we will all be eating genetically modified food. This list could go on and on and on.
Let me add, however, that I am also guilty of greed. I have too much debt and a house that is too big. At least I can be comforted by the thought that my greed helps other people satisfy theirs.
see http://www.g-r-e-e-d.com/GREED.htm
From my limited experience I observe that greed (or self-interest) motivates many of our society's actions. Greed has made capitalism great and greed destroyed communism. We see greed for money, greed for power, greed for affection, greed for fame, greed for self-satisfaction. As children, we seek our parents' affection. As adults, we seek recognition of other kinds. Advertisers use the word "need" and say it is what motivates us. We have basic needs which once fulfilled motivate us to go after wants. Maslow described these wants as higher order needs.
People (as do animals) kill to meet their basic needs when these basic needs can't be fulfilled by other means. And, yes, although people may kill so their children can eat (or even eat their children to feed themselves), more people kill to satisfy their greed for wants. Thus, as a nation we kill to satisfy a greed for safety and security (or is it oil) and we are being killed in turn based on a greed to preserve an archaic way of life.
Greed for money and the power it buys is what propels capitalism. And as Adam Smith believed this greed (or self-interest) also benefits society. However, it can also be the destruction of our society. Because of greed, the media giants quash free speech and diversity of opinion. (Look at what happens in a news room when a media chain buys a family owned newspaper.) Because of greed, governments support the evils of gambling at the behest of lobbyists who are equally greedy. Because of greed, tobacco and liquor companies continue to sell their addictive products to the detriment of all. Because of greed, pharmaceutical companies produce and sell dangerous and unneeded drugs. Because of greed, doctors peddle drugs and people buy them in hopes of a quick fix. Doctors also operate when its not necessary. (I have a scar and am left with only one lung as proof.) Because of greed, farmers put harmful pesticides on crops and growth hormones into cattle. It is because of greed that we will all be eating genetically modified food. This list could go on and on and on.
Let me add, however, that I am also guilty of greed. I have too much debt and a house that is too big. At least I can be comforted by the thought that my greed helps other people satisfy theirs.
see http://www.g-r-e-e-d.com/GREED.htm
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