Greed is Good
Jeremiah Ridley
Issue date: 4/23/09 Section: News and Opinion
With all of the talk these days about the merits of Socialism versus the evil greed of Capitalism, is there any legitimate justification for supporting capitalism? This very question surely raises the ire of many committed Conservatives, Libertarians, and Objectivists. However, many liberals, moderates, and the uninformed masses tend to just go along with the assumption that there is no legitimate justification for Capitalism. Indeed most products of the public school system operate on the premise that Capitalism is either completely evil or needs to be balanced with the merits of Socialism.
When asked about why Capitalism is at best a necessary evil, most people will give you some vague emotional response about how greedy capitalists and businessmen are and that this greed must be kept in check by some benign and beneficent governmental body. But why the emotional response, why the vague justification, and most distressing of all, why the blind trust in the all loving and beneficent Government? Do people not use reason anymore? The sad answer is no! The vast majority of people in our country are not taught how to reason anymore! What passes for reason these days in our era of non-reason, is emotional response and the stronger the emotional response, the more correct you are perceived to be by the majority of people.
More directly to the point, why is greed considered to be the most insidious sin that a person can commit? Well, this is not the easiest question to answer, but it is an important and objective question to answer. This singular question is extremely important for anyone interested in politics and economics to answer. In fact, this question underpins the very philosophy that each of us holds; whether we believe that we have a philosophy or not.
Let me just preface the following with this statement, Greed is good! Greed lies at the very core of every human-being. Why do people strive to do anything in their life but by greed? Why do people desire to have money, why does anybody want a car, and why do people get out of bed in the morning? Greed or rational self-interest as Ayn Rand calls it is the primal motivating force behind all action in our lives. It is greed that makes capitalism work. Laissez-faire Capitalism is the only economic system that harnesses this driving force. Any other economic system or mixture of economic systems just will not work because they incorrectly understand this basic instinct of mankind.
When asked about why Capitalism is at best a necessary evil, most people will give you some vague emotional response about how greedy capitalists and businessmen are and that this greed must be kept in check by some benign and beneficent governmental body. But why the emotional response, why the vague justification, and most distressing of all, why the blind trust in the all loving and beneficent Government? Do people not use reason anymore? The sad answer is no! The vast majority of people in our country are not taught how to reason anymore! What passes for reason these days in our era of non-reason, is emotional response and the stronger the emotional response, the more correct you are perceived to be by the majority of people.
More directly to the point, why is greed considered to be the most insidious sin that a person can commit? Well, this is not the easiest question to answer, but it is an important and objective question to answer. This singular question is extremely important for anyone interested in politics and economics to answer. In fact, this question underpins the very philosophy that each of us holds; whether we believe that we have a philosophy or not.
Let me just preface the following with this statement, Greed is good! Greed lies at the very core of every human-being. Why do people strive to do anything in their life but by greed? Why do people desire to have money, why does anybody want a car, and why do people get out of bed in the morning? Greed or rational self-interest as Ayn Rand calls it is the primal motivating force behind all action in our lives. It is greed that makes capitalism work. Laissez-faire Capitalism is the only economic system that harnesses this driving force. Any other economic system or mixture of economic systems just will not work because they incorrectly understand this basic instinct of mankind.
Be the first to comment on this story