Sunday, January 31, 2016

Greed and Profit-Seeking

Greed, defined as 'taking too much', constitutes both a social and a psychological imbalance, and, thus, can be classified as a Vice on two grounds.  Thus, the proposition 'Greed is good'  does not stand up well to serious Moral scrutiny.  Now, insofar as profit-seeking aims at the acquisition of more than one needs, and entails the loss by another of a vital good, it can only be classified as Greed, and, hence, as a Vice.  So, since profit-seeking is the motor of Capitalism, the implicit principle of Economic systems such as that of the U. S., 'Capitalism is good', may likewise have difficulty standing up well to serious Moral scrutiny, i. e. even if, as Smith posits, an Invisible Hand corrects any social imbalance, it leaves uncorrected the correlative psychological disorder.

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