Greed is good…

Greed…stolen from Libertarian Blog, and includes video of Milton Friedman…again

Wednesday, October 26, 2011

 Milton Friedman on Greed Video at link

“Greed is bad” our liberal friends tell us.
“Greed is good” says Gordon Gekko.

Who is right ?

Fact is, that greed is a human condition, regardless of what system you live in. Greed is to strive to have more of the same, whether you already have a little of it or not. Fact is also, that there is no political or social system which has advanced the human condition in general better than capitalism.
Yes, we still have poverty, but not to the same degree as is the case, for example, in North Korea. Or in Somalia, or in Zimbabwe, or in Russia, or in Syria, or in Iran, or…or…or.
Do we have greedy people ? Of course, we do. Are they more greedy that greedy people in any of the other countries ? Some of them might. But is it not also true that we like accusing others of greed, while pretending ourselves to be not greedy at all ? Are those who demand a redistribution of wealth, an extra tax on the rich not also greedy ? Of course, they are. What’s worse, they are so greedy that they do not mind holding others at gunpoint to take from them, what they themselves have never earned.
The fact remains that no other social system ever tried on this planet has been as successful in lifting the poverty line as capitalism has. Is the distance between rich and poor growing ? It might be. But the poor in our countries are still considerably better off than those in others. And there is no statist totalitarian country that is better off economically than we are.
Milton Friedman understood this very well, and delivers a persuasive argument in favor for capitalism (and greed) in this video clip which was recorded on the Phil Donahue show.

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The False Dichotomy of Greed «  naked capitalism
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About Tom Harley

Amateur ecologist and horticulturalist and CEO of Kimberley Environmental Horticulture Inc. (Tom Harley)
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1 Response to Greed is good…

  1. Pingback: bulldust not paying well … | pindanpost

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