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Is Greed Good

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Is Greed an Element of Success or Rather Harmful? According to religious beliefs, greed in one of the seven deadly sins. But there are people who believes that greed is good. Starting from Donald Trump to Novel Prize Winning Economist Milton Friedman share the same views. There are incentives if you are greedy, such that it forces you to thrive for success, which results to innovation. Donald Trump recently stated, “I’m very greedy…And greedy for the United States”. Andrew Weil, a physician featured in Time’s Magazine stated, “Fear and greed are potent motivators. When both of these forces push in the same direction, virtually no human being can resist”. But I was not convinced with these statements. Hence, I started doing research to decipher…show more content…
According to a post on Forbes.com, “Greed is bad for society and see it in its original meaning as a vice, an action that should be condemned in all of its forms. What, then, should we make of 13th century theologian Thomas Aquinas’ claim: ‘one man cannot over-abound in external riches without another man lacking them’?” (Kadlec). Greed is bad because it undermines society, and eventually destroys it. When you are greedy and is taking more than you need or filling up your supplies, you restrict the society from having what it needs. If the society is unable to satisfy the physical and mental needs, it suffers. To try and reimburse for your storing of a resource, people then overproduce, which causes a flood in the value of the product. The value, which is initially high drops because people force abundance on this thing. The overpopulation then exhausts a natural resource such as trees and copper, which drains environmental and social relationships. As an example, companies such as DeBeers store diamonds, which are not all that rare, especially for the price. This extremely constricted, profit driven tendency to restrict the flow of diamonds into the commercial economy drives the prices of the rocks up. People are regrettably willing to pay the extreme price for the diamonds because they are “rare”. In turn, rogue miners find ways to black market diamonds (blood diamonds,…show more content…
The desire for more and the one thing that keeps the economy of today’s world running. We are continuously being bombarded with images of things that we can accomplish, that once we possess them we are supposed to feel happier and more fulfilled than ever before. Greed is an insatiable need for more, where more is never enough. Greed can never be satisfied, once you attain your heart’s desire another desire takes its place. Greed is egocentric and destructive. Neighbors’ are no longer friends but rivals in a competition. Family members are no longer loved ones but obstacles in the quest for the newest, brightest and best. Greed is like a whirlpool, it keeps drawing victims nearer it 's center and in due time as the center is reached the force pulls victims under and destroys them. We have seen how the story Necklace portrayed greed as an addiction in the fictional world, with examples of the real world. The paper went on to discuss how greed is potentially destructive for the society, connecting ECON 101 concepts. And lastly we touched upon how greed is manipulative, with examples from Shakespeare’s famous play Macbeth and also from real life experiences. According to an experiment by University of California, Berkeley, “Riches are less ethical because they see greed as good, ‘The drivers of the most expensive vehicles were four times more likely to cut off drivers of lower status vehicles’” (Szalavitz). They conducted 5 other experiments to finally come to the first
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