Greed Friday

Well first of all tell me, is there some society you know that doesn’t run on greed? … What is greed? Of course none of us are greedy. It’s only the other fella that’s greedy. – Milton Friedman

If you believe that Wall Street greed crashed the American economy, you may be right. But today’s Black Friday Drudge Report headlines should disabuse you of the notion that greed is some special evil inherent to the financial sector. We are a materialist society from top to bottom. The reason Wall Street colluded with government to take advantage of Main Street (and not vice versa) had to do with ability, not greater desire. Or, as Friedman adherent Thomas Sowell would put it: “you can become the greediest person on earth and that will not increase your pay in the slightest.”

Current Drudge Report headlines:  

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