It’s hard to deny that capitalism is the best economic system around…. But for all its advantages, capitalism has one major drawback… it needs people to stay perpetually hungry for more…. The undeniable truth is that capitalism runs on greed. Greg Boyd
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6 Comments
I disagree. This quote presumes that the end result of building wealth is self indulgence. For many people this is the case but that has nothing to do with Capitalism; rather it has to do with the motivation of an individual. Capitalism provides better jobs, more quality products, and accountability. What happens to the money after it is created has nothing to do with the system that created it.
Good point, but I think the quote more accurately presumes that most desires for more are based off of greed. There is no doubt that any market economy is fueled by the need for more - whether more for good, or more for bad (I.e. greed and self indulgence).
For example, the desire for more behind most non-profits is not based off greed - although they still run off the desire for more (E.g. more shoes for Africa). Put this in a market economy and watch it become another integral part of the economy providing better jobs and more quality products and services.
The difference lies within greed. Greed as a, “Desire to acquire or possess more than one needs,” only restricts the definition of desiring more to the negative light. It is this desire that’s primarily behind a market economy. This is evidenced through the evaluation of one of the greatest semi-market economies today – America. The consumption behaviors and extraordinary amount of debt within this economy point to greed – for more than one needs – as an underlying element of its structure.
Now, I do agree that market economies could exist without greed (if the people aren’t greedy). Just because a market is primarily greedy doesn’t conclude that the economy has to exist within the confines of greed (E.g. back to the non-profits).
Capitalism can work without greed; however, greed exists in, flourishes in, and helps drive capitalism.
Ah, but the things gold can NOT buy us! That’s a list for the blogosphere.
Damien - Start the list, and I’ll be sure to add a few items.
When you KNOW it’s true it’s easy to state, however, actually sitting down and making the list is not so easy . . . I came up with a few but I think there are many more. You and your readers should add if you like . . .here goes nothin!
“all-powerful” gold cannot buy:
…family, friends and good relationships.