Galt's Gulch

Why progress is built on "greed"

Posted by $ blarman 9 years ago to Culture
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Best two minute video on the result of greed ever - courtesy of Milton Friedman.

SOURCE URL: https://www.youtube.com/watch?v=RWsx1X8PV_A

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  • Posted by coaldigger 9 years ago
    Funny how greedy is a term that always seems to apply to someone else. We all experience a phenomenon that attaining a goal is never as satisfying as we thought it would be. It is the reason mankind has evolved and continually strives to make progress. We look upon it as a noble burden that we must carry but in others we see greed. Funny.
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  • Posted by $ jbrenner 9 years ago
    I like Friedman's video, but I still vote for Michael Douglas portraying Gordon Gekko and the "Greed is good" speech from the movie Wall Street.

    https://www.youtube.com/watch?v=6Da1tDKF...

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    • Posted by CircuitGuy 9 years ago
      In that scene, Gekko is clearly the good guy. All this value is being held hostage by unions and management even though the shareholders' equity would provide a better return somewhere else.

      At the end of the movie he says contradictory stuff about capitalism being a zero-sum game where value trades hands through trickery.

      I guess it's like a real person. He had been an angry boy whose dad worked his tail off and died broke in his late 40s of a heart attack. He channeled that anger into productive activities and into deceit and rants about capitalism being a zero-sum game. A great villain b/c he's not all bad and not bad for no reason.
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