What is greed and is it greed good or bad

Reference no: EM13815295

Introduction

During an interview with talk show host Phil Donahue, economist Milton Friedman stated the following:

Is there some society you know that doesn't run on greed? What is greed? The world runs on individuals pursuing their separate interests. The great achievements of civilization have not come from government bureaus. Einstein did not construct his theory under an order from a bureaucrat. Henry Ford did not revolutionize the automobile industry that way. In the only cases in which the masses have escaped from the kind of grinding poverty you are talking about; the only cases in recorded history are where they had capitalism and largely free trade (Friedman, 1979).

Initial Post Instructions

Reflect upon Milton Friedman - Socialism vs. Capitalism (video). For your initial post, address the following:

Milton Friedman equated greed with capitalism and regarded the free enterprise system as the most productive economic system in a developed country. Reflect upon Mr. Friedman's comments:

What is greed? Is it greed good or bad?

Do you agree with Milton Friedman's perspective that all societies run on greed?

In what way has a capitalistic society allowed you to pursue your interests?

Reference no: EM13815295

Questions Cloud

Is this a violation of the epa : Is this a violation of the EPA? What about Title VII? If you cannot take a position, stipulate what specific additional information you need

Describe martin luther and the protestant reformation : Describe Martin Luther and the Protestant Reformation. What was he protesting? What did he do? What are the basic Ideas of Confucianism? How did it affect Ming China's evaluation of exploration?

Acc calculate the amount owed to the financial institution : Jane buys furniture to the value of R10 000.00 . She borrows the money from a financial institution on 1 February 2015. An interest rate of 9% per annum, compounded monthly, is charged. On 1 July 2015 she agrees to start paying the outstanding amount..

Write a paper about british vs german naval battles : Write a paper about British vs. German naval battles.

What is greed and is it greed good or bad : What is greed? Is it greed good or bad?

How america would be different if events had not occurred : During the Reagan / Bush years there were many changes in America. Pick two from the list and discuss how America would be different if these events or people had not occurred or existed, or had events happened differently.

Acc 304 prepare the lower portion of the income statement : The following are partial income statement account balances taken from the December 31, 2009, year-end trial balance of White and Sons, Inc. Restructuring costs 300,000 Interest revenue 40,000 Loss from earthquake (unusual and infrequent) 400,000 Los..

Case study on patricia and ira : Patricia and Ira

Nash equilibrium in the repeated prisoners dilemma game : Consider an infinitely repeated Prisoner's Dilemma game with values of δ sufficiently close to (but not equal to) 0. Which of the following are true - Nash equilibrium in the repeated Prisoner's Dilemma game without discounting

User Account

All Pages