Tuesday, September 30, 2008

Greed is a moral issue that can be easily absorbed into the system

roger Says: September 28th, 2008 at 10:27 pm

The problem I have with evil is the problem I have with greed. When I read denunciations of the Wall Street bankers as greedy, I find it extremely annoying. Any random poor person could be as greedy. I, a random poor person, am greedy in my own way.

The point is that they had scope for their greed, and that scope was in the system. Instead of greed, one has to concentrate on power. Having the power that arises from rentseeking wealth, they used it - not because they were morally debauched, but because their position in the system encouraged that use. They used it to buy protection - which actually is kinda cheap. It means bribing politicians, it means funding think tanks and economic departments (vide George Masons) to produce a crop of propagandists, and it all worked rather well, and is continuing to work rather well.

Greed is a moral issue that can be easily absorbed into the system - McCain, Bush and whoever wants to can pick up that word and make an easy denunciation of the plutocrats. But it isn’t so easy to pick up that word if one is denouncing the power of that wealth, its non-productive origin and use, and the fact that it skews the system to entrench the wealthiest. That is just not something McCain, et al. - or the Dems, for the most part - can say. The Pinocchio Theory

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