Galt's Gulch

Why progress is built on "greed"

Posted by $ blarman 10 years, 10 months 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 10 years, 10 months 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 10 years, 10 months 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 10 years, 10 months 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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