The Motley Fool Discussion Boards

Previous Page

Politics & Current Events / Retire Early CampFIRE

URL:  https://boards.fool.com/good-stossel-read-on-greed-30337554.aspx

Subject:  Good Stossel read on greed Date:  10/24/2012  9:36 AM
Author:  arrete Number:  650561 of 888931

And Donnie got quoted.

>> Blaming problems on "greed" is a mindless cliche.

Yes, Wall Street was greedy -- but that's nothing new. Greed is a constant. Did you ever turn down a raise? We need a free market because it restrains greed. Laws against theft and fraud help, but competition does more. With this election approaching, and statist, eager-to-regulate candidates in ascent, we need more Americans to understand this.

The statist left says it's government's job to protect consumers and help poor people. But greed -- more precisely, the pursuit of self-interest in the free market -- would work better. The market (if not corrupted by corporate welfare and bailouts) harmonizes the interests of diverse people who don't even know each other and might not even like each other. It motivates them to work hard to serve customers.
.....
Nothing has done more than markets to lift people out of the mud and misery of primitive life
.....
"Property rights constrain self-interest," libertarian economist Donald Boudreaux pointed out. "We're all self-interested. We care more about ourselves, our family and our loved ones than we care about strangers. ... The problem with government is that it is the institution that best allows people to grab more than what they deserve."

That's what happened under communism -- and increasingly, it's happening in America. As Joseph Sobran put it: "'Need' now means wanting someone else's money. 'Greed' means wanting to keep your own. 'Compassion' is when a politician arranges the transfer.'" <<
http://townhall.com/columnists/johnstossel/2012/10/24/greed/...

arrete
Copyright 1996-2022 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us