“Greed, for lack of a better word, is good. Greed is right. Greed works” (Garcia, 2010, para.1), this quote by Gordon Gekko in the infamous movie Wall Street has become the mantra of many who dream of working as stock brokers, business moguls and corporate raiders. The concept behind Gekko’s speech was that greed is the driving force behind our evolution as mankind and greed, for all things, is what lets us continue to thrive. The opinion Gekko was preaching is in many ways correct, greed is good for the economy and business, greed is innately within us as humans and greed for centuries has been the push behind innovation and development. Studies and historical moments help to support this argument, and provide examples as well as evidence
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One of the more recent studies was done by Oxford University; the results suggested that greed really is good as well as income inequalities and bullying across class lines. Essentially researchers came to the conclusion that “we tolerate the enormous wealth some inventors and industrialists accumulate because at least part of the time, they make our lives better too.” (Kluger, 2014, para.6) This idea was supported by the observation of chimps, blue monkeys and ring tail lemurs when it was noted that the higher ranking individuals tended to venture closer to the border of the group’s territory during patrols. This behaviour allowed the lower ranking members to become what the study called “free-riders”, the ones who hide behind the braver and contribute little on their own. But how does this study relate to greed in business? Many could say that entrepreneurs and savvy businessmen are the equivalent to the higher-ranking chimps as they take risks and by doing so reap the reward of power or influence. On the other side there are the regular working class individuals who make up most of the economy, these individuals are the equivalent to the “free-riders” as they work stable jobs that do not involve them taking on any risks, but in turn pay less and do not allow them to wield any real …show more content…
Greed to some is synonymous with selfishness and immorality but to others like Bill Gates, Steve Jobs, Albert Einstein or Richard Feynman they would likely argue that their “greed” drove them to innovate and create in ways that others never could. What they created not only helped society progress and learn, but it also influenced future entrepreneurs, scientists, etc. Greed can manifest itself in a number of ways and this quality means it can motivate people to do anything from getting a pay raise to growing a multi billion dollar company, and while altruism may attract admiration it is greed that society will encourage and reward in the end. The industrial revolution was a historical example of how greed was turned into motivation to invent and innovate, and in turn this helped society progress. In a book titled “Need, Speed and Greed” written by Vijay V. Vaitheeswaran a finance editor at The Economist, the importance of innovation as well as the effect greed has on motivating it is discussed. In an excerpt from the book the author argues, “if entrepreneurs, who are the vital carriers of innovation, are rewarded for solving socially important problems, greed can indeed do much good. By embracing the new rules of innovation, we can then turn today’s wicked global crises into unprecedented economic opportunities.” (Losowsky, 2012,
One of the more recent studies was done by Oxford University; the results suggested that greed really is good as well as income inequalities and bullying across class lines. Essentially researchers came to the conclusion that “we tolerate the enormous wealth some inventors and industrialists accumulate because at least part of the time, they make our lives better too.” (Kluger, 2014, para.6) This idea was supported by the observation of chimps, blue monkeys and ring tail lemurs when it was noted that the higher ranking individuals tended to venture closer to the border of the group’s territory during patrols. This behaviour allowed the lower ranking members to become what the study called “free-riders”, the ones who hide behind the braver and contribute little on their own. But how does this study relate to greed in business? Many could say that entrepreneurs and savvy businessmen are the equivalent to the higher-ranking chimps as they take risks and by doing so reap the reward of power or influence. On the other side there are the regular working class individuals who make up most of the economy, these individuals are the equivalent to the “free-riders” as they work stable jobs that do not involve them taking on any risks, but in turn pay less and do not allow them to wield any real …show more content…
Greed to some is synonymous with selfishness and immorality but to others like Bill Gates, Steve Jobs, Albert Einstein or Richard Feynman they would likely argue that their “greed” drove them to innovate and create in ways that others never could. What they created not only helped society progress and learn, but it also influenced future entrepreneurs, scientists, etc. Greed can manifest itself in a number of ways and this quality means it can motivate people to do anything from getting a pay raise to growing a multi billion dollar company, and while altruism may attract admiration it is greed that society will encourage and reward in the end. The industrial revolution was a historical example of how greed was turned into motivation to invent and innovate, and in turn this helped society progress. In a book titled “Need, Speed and Greed” written by Vijay V. Vaitheeswaran a finance editor at The Economist, the importance of innovation as well as the effect greed has on motivating it is discussed. In an excerpt from the book the author argues, “if entrepreneurs, who are the vital carriers of innovation, are rewarded for solving socially important problems, greed can indeed do much good. By embracing the new rules of innovation, we can then turn today’s wicked global crises into unprecedented economic opportunities.” (Losowsky, 2012,