Wednesday, September 17, 2014

Gordon Gekko and Greed Is Good ... The Political Class and "Greed" Explained ... Let's All Be Greedy

Was the character Gordon Gekko in the old movie 'Wall Street' right all along? Is greed good?

When we hear the word "greed," does its sound tend to cause us to experience happiness, sadness, embarrassment or anger? And why?

The word greed has extremely negative connotations, of course. And calling someone greedy is obviously not meant to be a compliment.

But now along comes economist Thomas Sowell with his unique and common sense explanation of the word greed as used by our politicians. It makes me realize that I am indeed a greedy person, and that I very much like it that way.

You also may prefer to be called greedy after reading what Mr. Sowell has to say. I hope so, because we don't have enough greedy people today. Not even close to enough.

Notable & Quotable: Thomas Sowell on 'Greed' is subtitled 'Why is the term applied almost exclusively to those who want to keep what they've earned?:'

"From economist Thomas Sowell's "The Vision of the Anointed" (1995):

Among the many other questions raised by the nebulous concept of "greed" is why it is a term applied almost exclusively to those who want to earn more money or to keep what they have already earned—never to those wanting to take other people's money in taxes or to those wishing to live on the largess dispensed from such taxation. No amount of taxation is ever described by the anointed as "greed" on the part of government or the clientele of government....

Families who wish to be independent financially and to make their own decisions about their lives are of little interest or use to those who are seeking to impose their superior wisdom and virtue on other people. Earning their own money makes these families unlikely candidates for third-party direction and wishing to retain what they have earned threatens to deprive the anointed of the money needed to distribute as largess to others who would thus become subject to their direction. In these circumstances, it is understandable why the desire to increase and retain one's own earnings should be characterized negatively as "greed," while wishing to live at the expense of others is not."

Summing Up 

If that's the definition of greed, call me greedy.

My view is that we definitely need more of what too many of our politicians today label as greedy people, but who merely want to work hard and keep more of what they've earned.

My view also is that we need fewer politicians who want to call hard workers greedy and then take the hard earned money of the hard workers and proceed to do with it as the politicians so please, all in the often misguided, misdirected and usually incorrect name of performing a necessary and vital public service.

That's my take.

Thanks. Bob.

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