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Greed

hvogel Wrote: Oct 24, 2012 8:03 AM

Is it greed to tax the factory so heavily that the cost of moving manufacturing to China becomes reasonable? Is it greed to insist that your "right" to a job in the factory outweighs the factory owner's right to earn a reasonable profit from the factory? If the factory fails and the owner loses his investment, are the former employees greedy because they get to keep their wages? The factory owner bears all of the risk. Do you really call it greed if the factory owner strives to maximize his reward?

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Greed

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...

Related Tags: Wall Street Bill O'Reilly Libertarian Free Markets