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Matt McKenzie
06-15-2012, 08:30 AM
Rather than highjack another thread, I though I would address a comment made by Paul that comes up often in political discussions. What is greed? Many times those who see Capitalism as a problem point to greed as an evil impulse that is a detriment to our economy and our society. So what is it? Who is guilty of it? Is anyone innocent of greed?
In that other thread, Paul pointed out that gas prices are higher in some communities than in others within the same state because the owners are greedy. How many here believe that to be true?
I'm sure there are those here who understand the retail market for gasoline very well and could shed some light on this specific example and help Paul understand the real reason for that phenomenon, but the bigger question is what people are really talking about when they use words like "greed" and "fairness".
I know that I've learned to grab my wallet any time someone uses those words in a political conversation. Probably because I'm greedy.

menmon
06-15-2012, 10:00 AM
The word greed is probablly the most misused word there is. The pursuit of wealth generates work and opportunity for people, so one would consider it a good thing. Taking advantage of your fellowman in the pursuit of wealth is greed!

BonMallari
06-15-2012, 10:06 AM
search Gordon Gecko about GREED :cool:

Franco
06-15-2012, 10:10 AM
Here is Noble winning Economist Milton Freedman on greed.

http://www.youtube.com/watch?v=RWsx1X8PV_A

I couldn't have said it any better.

menmon
06-15-2012, 11:15 AM
He was a professor at the University of Chicago.

HPL
06-15-2012, 12:37 PM
I started to weigh in on this on the original thread also. I can't say that I know the economics of the businesses that are selling gas. None are stand alone gas stations like we had in the good old days. All have some kind of "store" associated with them and some are associated with major supermarket chains like Walmart and (in Texas) HEB. There could be any number of factors involved. Does make me a bit crazy to be paying more at the station literally across the street from the refinery than at a station that is about 140 miles farther away. I do not, however, particularly like the word greed when used in the context that it was used in the original thread.

HPL

ARay11
06-15-2012, 12:48 PM
It isn't greed until somebody gets an eye poked out.

think about it.

caryalsobrook
06-15-2012, 01:32 PM
Here is Noble winning Economist Milton Freedman on greed.

http://www.youtube.com/watch?v=RWsx1X8PV_A

I couldn't have said it any better.

Thanks for the video Franco. Such a brilliant man. He could put such complex ideas in such simple form that even a liberal(progressive,socialist?) could understand them if they would only open their mind.

It reminded me of the best dental assistant I ever had. While were having a break, another assistant complimented her for getting so much work done in such a short time. She asked why she worked so hard. Sitting there waiting for her answer, I expected to here her say something like "I love dentistry and can think of no higher calling than serving patients", or something like "Dr. Alsobrook is such a great dentist that I only want to help him in treating patients." Little did I expect her response to be what it was. She said, "The better I do my job the faster Dr. Alsobrook will do his job and the better chance I have to come back here, sit on my butt and drink a coke"!! Individuals persuing their own self interests. :D

charly_t
06-15-2012, 01:49 PM
It would seem that many people think that I was greedy for expecting to make a profit on my Chihuahuas. I never figured that was greed but many people did. Animal rights people scream 'greedy' about most animal raising operations makes no difference what you raise. Some think any type of farmer is greedy just because the farmer expects to make a bare living doing all that hard work.