"Greed is good." Yes, I did watch that movie, where the character Gordon Gekko made that proclamation.
I do not know how many here share that sentiment, but let's assume for the moment that the above statement is true. Then, the next question is "Are we sufficiently greedy?". Ah, you will see that in order to answer that question, we must first define "greed". Else, how would we know if we have enough of it?
For the definition, I turned to the Web, where I found this.
Greed is the inordinate desire to possess wealth, goods, or objects of abstract value with the intention to keep it for one's self, far beyond the dictates of basic survival and comfort.
Oh boy! Now, we have to define "basic survival and comfort". It's never that simple, I told you. MasterBlaster, are you there? Could you help me out here? Nevermind, I found one of his posts
here. There, I do have more than what MasterBlaster has for survival. Actually, too much more! And I am sure there are people who have less than MasterBlaster.
Yet, I want still more. I work "for just one more year". I study different investment and withdrawal strategies in order to maximize my consumption for the remainder of my life, material consumption way above that of MasterBlaster, I remind you. By the way, we do not really know if those pictures are really MasterBlaster's abode, but I always try to take people's words at face value.
That makes me greedy all right. But if greed is good, do I possess enough greed to be really, really good? How would I know? Shouldn't I allow for some margin, by being extra greedy to be safe?
Oh, but what is this? I found the following too.
It (greed) is typically used to criticize those who seek excessive material wealth, although it may apply to the need to feel more excessively moral, social, or otherwise better than someone else.
Umm... I don't know what to make of the above! Strange definition one gets on the Web sometime.
Anyway, the exact lines made by Gordon Gekko in the movie are the following.
"Greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind."
Wikipedia says that the inspiration for the movie came from a speech by Ivan Boesky, who said the following in a commencement address at UC Berkeley in 1986.
"Greed is all right, by the way. I want you to know that. I think greed is healthy. You can be greedy and still feel good about yourself".
Of course many of us remember that Boesky was sent to jail later for insider trading.
It seems to me that it is not really relevant whether greed is good or bad. It's what one does to satisfy it that matters. Or more practically, it's the action that may land one in jail, whether you call the specific action good or bad. And jail is bad, yes? At the minimum, I know I don't want jail. That's for sure!