Comments on: Vice and The Motive of Wealth

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By: SFO CAB

SFO CAB — Mon, 27 Apr 2009 17:10:03 +0000

I agree with you Winton, there's always something between good and bad …

By: Matthew Yglesias, noted moral simpleton, is correct | EGALICONTRARIAN

Matthew Yglesias, noted moral simpleton, is correct | EGALICONTRARIAN — Thu, 23 Apr 2009 02:02:15 +0000

[...] Wilkinson makes extremely bad arguments against Yglesias. I’ll go through the worst [...]

By: Jim Caserta

Jim Caserta — Wed, 22 Apr 2009 13:04:08 +0000

Armed robbers are greedy. We don't prosecute them for being greedy, but for the armed robbery part. I wonder how Adam Smith would describe the greed of English kings who took Scottish lands? Bill Gates is greedy, especially when acting as an agent of Microsoft. Where people took umbrage was with anti-competitive practices - against the law.

This points to financial regulation. The market system cannot allow unchecked greed and theft. Madoff wasn't even that greedy, but he wasn't following the law. We weakened our laws and markets to the point that we made the obscene transfers possible, and possibly legal.

As for AS & the invisible hand, there is 'make the pie bigger' greed which you might see at a tech company or in a physician, and there's 'make my piece of the pie bigger, whether the pie gets smaller or not' greed that tends more towards finance and law. It is the government's role to shift effort towards the first and away from the second.

By: Celebrity Archives

Celebrity Archives — Thu, 16 Apr 2009 05:08:02 +0000

[...] Vice and The Motive of Wealth [...]

By: winton_bates

winton_bates — Wed, 15 Apr 2009 22:21:37 +0000

I should have followed Will's link to Connor Clarke's post before posting my comment. He makes the same point – that “not good” is not necessarily the same as “bad”.

By: winton_bates

winton_bates — Wed, 15 Apr 2009 22:13:59 +0000

Matt wrote: “we’ve lost the willingness to just say clearly that ceteris paribus greedy behavior is not virtuous behavior”.

That seems to me to be an odd claim to make. He is not saying that we are no longer willing to say that greedy behavior is bad. His claim is that we are no longer willing to say that greedy behavior is not good (i.e. we are no longer willing to say that it is either ethically neutral or bad).

It seems to me that the claim is probably false. How do people actually respond when asked which of these propositions they agree with: “greed is good”; “greed is bad” and “greed is not necessarily either good or bad”?

By: Tom

Tom — Wed, 15 Apr 2009 18:24:43 +0000

Sorry, you can keep trying, but this sort of construction will never sound natural:

Some executives are surely complete bastards and some of them are surely upstanding women and men of virtue.

There's nothing "wrong" with it, per se. But the linguistic campaign of which it's a part is not going to budge anything. The rest of the world isn't going to start talking and writing like this, and so it will always come off clunky and self-conscious when it comes out of your keyboard. (Along with "she" as a generic pronoun, etc.)

By: uknowbetter

uknowbetter — Tue, 14 Apr 2009 21:00:06 +0000

Yglesias better be paid in buckets of crap by his employer. How dare that greedy bastard demand to be paid with money!

By: mk

mk — Tue, 14 Apr 2009 13:09:21 +0000

Here's a common sense way to look at it. The pursuit of wealth is morally neutral by itself. But if you don't also act with certain balancing moral instincts, you are acting "greedily," "immorally," etc. Perhaps "irresponsibility" is a better word than "greed."

Take the example of the person at the ratings agency who says in an Instant-Message "this whole system is a house of cards that will collapse one day." That person is acting morally irresponsibly if they do not act on this realization, to try to help fix the situation.

The key is not the presence of self-interest. The key is the absence of sufficiently balancing moral instincts.

By: Maggie's Farm

Maggie's Farm — Tue, 14 Apr 2009 10:11:52 +0000

Tuesday morning links…

Legal scam or real problem? Chinese wallboard
Is there a freedom not to buy medical insurance? Why does that question even need to be asked?
Animal nutritionists at the National Zoo
A "quick" bankruptcy for GM? Megan
Nuclear dis…

By: Jayson Virissimo

Jayson Virissimo — Tue, 14 Apr 2009 04:55:00 +0000

So everyone that isn't a subsistence farmer is greedy? That would seem to include most of America's “poor”.

By: Klaga inte på de giriga « Nonicoclolasos

Klaga inte på de giriga « Nonicoclolasos — Tue, 14 Apr 2009 03:50:39 +0000

[...] leave a comment » Kloka ord från Will Wilkinson: [...]