Tag Archives: greed

WHO ARE THE PEOPLE WORSHIPPING AT THE ALTER OF MATERIALISM AND GREED ?

A combination of the success of the free market system and gradual increase of government largess has all but eliminated depression style poverty.  The poverty argument no longer engenders the same level of anger when those classed as poor have cell phones and iPads, drive cars, own homes and still pay no income tax.

Today’s anger is not about poverty; it’s about riches.  The Wall Street protesters are not fighting poverty; they are protesting the unequal distribution of wealth.  They are protesting the fact that some people have more than they do and they want some of it.  All you need to do to see why the Occupiers have less is to examine a cross section of them and compare it a cross section of Tea Party types, or upper East-side New York liberals for that matter.

All the rich want to do is keep some of their own money and pay out the rest in taxes and give some to charity.  They don’t want to take money from someone else just because someone else has it.  Wanting more money may be greed, but isn’t wanting someone else’s money without earning it an even greater greed?  The Occupiers want someone else’s money.  And they want it to they can buy the latest iPods and better cars.  If they really want to end greed they should get a job.

MILTON FRIEDMAN ON GREED

Milton Friedman was not only a brilliant economist; he was a great debater as well. He had a knack of going straight to the core of an issue. He spoke in words anyone could understand, a rare talent among those in his profession.

Economics is an in-exact science, comprised less of facts and more of schools of thought. The belief in free markets, the sanctity of private property and the Rule of Law is known in the field of economics as “the Friedman school”. Friedman is a Nobel Prize winner but the highest honor an economist can earn is to have the world  add the word “school” to your name.

Here is Friedman’s response to Phil Donohue’s version of the age old question, isn’t capitalism a travesty on the poor?