3 ms·
Also known as, "Embrace reality argument", because this is what people actually do. Capitalism works because people are greedy, and it takes advantage of that.
by judah 9y ago
Also known as, "Embrace reality argument", because this is what people actually do.
Capitalism works because people are greedy, and it takes advantage of that.
- frgtpsswrdlame 9y agoOr we could stop saying "races to the bottom are inevitable, just accept them" and work on preventing them, especially in disaster situations.
- clavalle 9y agoBut it only works when that 'greed' (I prefer 'self-interest') is directed toward creating value. Greed can be a good motivator but greed can be destructive to the market, too. See: Rent Seeking, Predatory Pricing, Protection Racket etc.