Monday, January 9, 2012


The term 'greed' is commonly tossed out as an explanation for this country's economic woes.  This is broadly understood as the "evil" desire of those in business, especially "big" business, to make a profit.  The following clarifies where this intellectual laziness or intellectual dishonesty leads:

Often, the term "greed" is used negatively to refer to a desire to make a profit. This is wrong however, because a profit is the measure of value that has been created by a man-- a value that did not exist before. If a man makes no profit - he planted four potatoes and harvested four potatoes. To seek to produce new value, by thought and effort and time to create a product or provide a service of quality by the most efficient means -- this is the very definition of GOOD. But for this desire, and the (shrinking) freedom that makes it possible, we could not produce and then trade for the ability to feed our family, shelter ourselves, obtain the materials with which to make our finished product, or invest to do it better, bigger, or in an entirely new way. Put the label 'greed' on that - and you damn yourself as a parasite - the sort that does deserve the invective "greedy." Greed is the combination of two things - the desire to possess value without creating or earning an objective value of the exact amount for which others are willing to freely trade, and, especially to possess so that others can not. The man who produces his best as efficiently as he can to trade his values for the values that others produce - he exhibits neither of these flaws. He is neither a looter nor a moocher. You can identify countless looters and moochers throughout our local state and federal governments, and in many of our unions.

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