Bob, old friend…we went over this once before…remember
Greed. power and prestige…maligned terms used by communists to bash Capitalism.
GREED
In a true Free Market, Greed does not exist. People operate on the principle of SELF INTEREST. Self Interest is not greed. A man seeking to improve his lot in life so that his family benefits is acting in his own self-interest. If he, in his own self-interest, improves himself and his family, then the general good is accomplished. Communists. socialists and liberal thinkers of today call that GREED every chance they get…but it is not.
Adam Smith said it very well: “It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own self-interest.” In other words, the butcher is not working in his shop so that you can eat; he’s doing it so that he can. But by virtue of him being there, doing what he does, you are able to also eat.
POWER
The power that exists in a Free Market is ECONOMIC Power and that is not a negative… Socialism, communism and tyranny depend on POLITICAL power. There is a big difference.
Economic power is exercised by means of a positive, by offering everyone a reward, an incentive, a payment, a value. Political power is exercised by means of a negative, by the threat of punishment, injury, imprisonment, destruction. The Free Market’s power is values; socialism’s power is fear.
PRESTIGE
Prestige is not a negative in the Free Market. It is a goal. It is earned by respecting the rights and property of others and maintaining the ruling economic principle of justice.
Prestige in a socialist/communist society is UN-earned. It is usurped by force or political power. It is simply “claimed”.
Self Interest, (What you mistakenly call greed) Power and Prestige are not negatives of the Free Market (Capitalism). They are actually positives that make the Free Market the overall best economic system in the world.
How about a new argument…