Sep 25, 2010

Greed may not be good for economy, but envy is so worse

"Greed, for lack of a better word, is good. Greed is right. Greed works."

That's what the Gordon Gekko said in the film Wall Street (1987). But what Economist Victor Claar in a speech at the American Enterprise Institute, envy, is an inherent part of the free market system.

In such position, free market produces different outcomes where the envy is inevitable. And in Democratic system, they can push the policies that can narrow down their targets.

Claar said in his speech. "But pursuing self-interest in a system that allows you to be rewarded for pursuit of your own self-interest and at the same time in the service of others? That's certainly better than the alternative."

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