Milton Friedman on Greed

My knowledge of economics is too limited to make any really sound economic counterarguments against what Milton Friedman says here. But I will say this: any society that is founded on the concept of "greed" is going to inherently be a materialistic one. And in my view, materialism and spiritualism are incompatible concepts.

I just think to many of the role models and celebrities of today's society and wonder are they the result of greed and materialism gone rampant? Paris Hilton, Donald Trump, corporate lawyers making $200,000 a year defending pharmaceutical companies, Wall Street douchebags at some ritzy Manhattan bar? Why are these the most lauded in our society? I don't know. But I think back to that great American novel, The Great Gatsby, and what it has to say about greed and whether it is making America spiritually bankrupt. Those characters, Daisy and Tom, had more money than they knew what to do with. But they were the shallowest, most miserable and amoral people around.

These aren't and never will be my role models because despite what Gordon Gecko might say, Greed is not good.