In response to:


Derek94 Wrote: Oct 24, 2012 12:07 PM
I agree in principle, but would characterize "greed" a bit differently. I refer to it as "competitive self-interest." Because "self-interest" by itself can be corrosive. "Competition" gives your "self-interest" focus and direction.
On TV, my Fox colleague Bill O'Reilly says, "The recession was brought on largely by greedy Wall Street corporations."

Give me a break.

Bill's smart. If he believes such things, we who care about freedom have done a poor job communicating economics.

Blaming problems on "greed" is a mindless cliche.

Yes, Wall Street was greedy -- but that's nothing new. Greed is a constant. Did you ever turn down a raise? We need a free market because it restrains greed. Laws against theft and fraud help, but competition does more. With this election approaching, and statist, eager-to-regulate candidates in ascent, we...