Everyone wishes to get at least one thing that they don’t have, like to want a new car, new computer, new house, or anything it is. Most people are inclined to do something it takes to get it, that itself is greed. In economics, we regularly count on people who rationally seeking their personal interests. But greed, the selfish and excessive desire for more than is needed, is no longer a virtue. Without greed, a person, a community or a society may lack the motivation to build or achieve. However, the difference between greed and self-interest tends to disturb people. Self- interest is where you use your own gifts, talents and resources to help others. But somehow self- interest sometimes becomes greed when it’s taken too far. You’ll always be greedy even if you don’t want to.
In video part 2, where we saw Bill Gates, the richest man in the world, create a software that solves money and time and creates thousands of jobs for other people. In return, he earned a lot of money, but by earning a lot of money, the rest lost the chance to earn that money, NO. Everyone in the world wants to get rich. Some people will say it’s bad and evil, but I think it’s good because it gives everyone the dream of making it big. Once people started to think that greed is good, everyone competes with each other.
Greed causes companies to compete, everybody wants to be rated number one by consumers and this greed leads to more productivity and innovation. If you came second in a competition, you would think it wasn’t good enough and try to come first in the next one. You wouldn’t want that without greed, in fact there wouldn’t be any contests.
Greed is good, because it is the most important incentive for people to work hard, get a good education, start a business It makes people productive and contributing members of society. And in return, people are paid a salary called the profit incentive and with that money, you can live a more comfortable live and hopefully build wealth. Some will argue that rich people are always greedy, this can be true but not always.
Greed is good overall. It encourages people to work harder. Even in the world of business and the economy, greed makes people want to compete with other companies. Therefore, the company tries to produce better products at cheaper prices. This benefits the company because it gets more money and benefits the consumers because it gets the product they want.