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Terminus in WA Wrote: Oct 24, 2012 10:31 AM
I tend to agree. That would be perhaps my only qualm with Dr. Sowell as well, his defense of this altered definition of "greed". Although I really don't care how much someone wastes on sports tickets, as long it is their *own* money.
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...