I think you can follow "greed is good", without crossing the line into unethical practices. It's a matter of degrees. The "greed is good" mantra drives competition and can push people to do far more than they may have thought possible. Any tool can be used for good or bad.
I agree with almost everything you've said. I'm only continuing this because it's an interesting discussion, and as you say, we're hovering around some grey areas which make simple, black-and-white answers seem incomplete.
And of course, some of this gets subjective. A US workers description of being 'screwed' in the workplace, or not treated 'well', would likely be a slice of heaven for most 3rd world workers. And as I said, these 3rd world countries are placing pressure on our labor market. But those people are being helped. I strongly suspect that the overall for humanity is very positive. Our isolation, and position as a super industrial power after WWII just might have spoiled us. It's the rest of the world's turn to share in the wealth.
Again, true enough. Lately I've been watching history documentaries during my morning work-out, and I'm starting to realize just how great it is to be alive, here, at this time. The vast majority of humans who have ever lived have been in far, far worse conditions. Many still are.
But take that same argument, and zoom in on income disparity in the US. Zoom in even more, and compare worker compensation to executive compensation.
I am grateful to have had a job making ten times more than an unskilled worker in China. Likewise, the top executives should be grateful making ten times more than me. Why do they need many times that much?
I'll skip the direct (hypothetical) challenge to you to start a business that treats everyone like kings, but the reality is, if company A is really treating people that bad, that provides an opportunity for company B to attract those employees with a better environment (total compensation). It can only get so bad, and with unemployment figures dropping, companies are going to have to compete for labor.
I hope you're right. And I think we're starting to see that. But I don't think it'll go as far or as fast as it should. Interlocking boards and top executives all feathering each other's nests are pretty firmly entrenched. It'll be hard to claw back the huge disparity they created when labor was cheap.
I suggest making yourself far more valuable to your employer than a 3rd world worker. You'll have options.
Which is exactly what I did for 36 years.
I'll also add that I recall when people in high demand fields were 'job hopping', and getting 20% or higher increases, moving from one company to another every 18 months. I don't recall any tears for these corporations being 'mistreated' by the employees.
Well then, those companies should just have made themselves more valuable to their employees, right?
I can assure you these companies weren't crying for the employees who were facing benefit cuts and harsher work environments, when the job market went the other way.