What Is Greed?

From its first day to this, sheer greed was the driving spirit of civilization; wealth and again wealth and once more wealth, wealth, not of society, but of the single scurvy individual - here was its one and final aim.

- Friedrich Engels, The Origin of the Family, Private Property, and the State, IX

Podcast of the Day

Enron, Worldcom, Bernie Madoff, the subprime mortgage crisis.

Over the past decade or so, news stories about unethical behavior have been a regular feature on TV, a long, discouraging parade of misdeeds marching across our screens. And in the face of these scandals, psychologists and economists have been slowly reworking how they think about the cause of unethical behavior.

In general, when we think about bad behavior, we think about it being tied to character: Bad people do bad things. But that model, researchers say, is profoundly inadequate...

Listen to: Psychology Of Fraud: Why Good People Do Bad Things

Video of the Day

Short Article of the Day

But in the end, it was actually my absurdly wealthy bosses who helped me see the limitations of unlimited wealth. I was in a meeting with one of them, and a few other traders, and they were talking about the new hedge-fund regulations. Most everyone on Wall Street thought they were a bad idea. “But isn’t it better for the system as a whole?” I asked. The room went quiet, and my boss shot me a withering look. I remember his saying, “I don’t have the brain capacity to think about the system as a whole. All I’m concerned with is how this affects our company.”

I felt as if I’d been punched in the gut. He was afraid of losing money, despite all that he had...

Continue reading Sam Polk's article: For the Love of Money

Related Topics

Addiction | Desire | Human Nature

Each day I post short quotes by great thinkers on a particular philosophical, scientific or historical topic, along with videos, interviews and articles by contemporary thinkers that explore each topic in more detail. Find me on Facebook or Twitter or enter your email below to learn about the ideas that helped shape our world.