When I say greed, I am not talking about fraud, theft, dishonesty, lobbying for special privileges from government or other forms of despicable behavior. I’m talking about people trying to get as much as they can for themselves. Let’s look at it. – Walter Williams via Washington Examiner

 

By Walter Williams via Washington Examiner

EXCERPTS:

In a free-market system, in order for one to get more for himself, he must serve his fellow man. This is precisely what Adam Smith, the father of economics, meant when he said in “An Inquiry Into the Nature and Causes of the Wealth of Nations” (1776):

 

“It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest.”

 

Free-market capitalism is relatively new in human history. Before the rise of capitalism, the way people amassed great wealth was by looting, plundering and enslaving their fellow man.

 

Capitalism made it possible to become wealthy by serving one’s fellow man. Capitalists seek to discover what people want and then produce it as efficiently as possible.

 

Free-market capitalism is ruthless in its profit and loss discipline. This explains much of the hostility toward free-market capitalism; some of it is held by businessmen.

 

Free-market capitalism has other enemies — mostly among the intellectual elite and political tyrants. These are people who believe that they have superior wisdom to the masses and that God has ordained them to forcibly impose that wisdom on the rest of us.

FULL ARTICLE

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