Is Greed Good?

Free markets, entrepreneurialism, capitalism – these values get a bum wrap nowadays. I’m not sure why. Societies that embrace these values prosper, and those that reject them don’t. Even so, there exists an agitation toward free-thinking businessmen like me.

Perhaps this stokes a problem. What do we do about the inept jealousy we have toward others and their wealth? Perhaps we should rely on government to squeeze the greed out of them. Our laws, perhaps, should take from the greedy and redistribute to the have-nots.

This video is revealing. Phil Donahue asks Milton Friedman, “When you see greed, don’t you doubt capitalism?” Friedman answers by reminding Donahue of the history of capitalism verses socialism. His answer:

Do you think non-capitalist countries don’t run on greed? We always think the other person is greedy. The truth is, the masses are worse off in societies that attempt to reject capitalism.

What do you think? Can greed be legislated and can wealth be distributed?