What role does greed play in the lives of ppl and can it play a positive role in society?

Question

What role does greed play in the lives of ppl and can it play a positive role in society?

Answer 1

I think greed has both positive and negative effects on society.

The drive for income increases the entrepreunership of the people, creativity, new products and services.

On the negative side, it can lead to crime, ineficient markets, etc.

Answer 2

Freidrich Hayek emphasised that no one person is in control of the market. The market is created by everyone acting in their own self-interest, and creates order in the market unintentionally.

Granovetter (who was a sociologist) emphasised that we rely on people with weak ties for survival, and this is a self-regulating process. For example, when I go to the store to buy a loaf of bread, I just want to buy a loaf of bread. I do not care who manufactured it, and they do not care who buys it. I just want my loaf of bread, and they just want their money. However, even though both sides are only self-interested, order is created in the market.

Therefore, greed does play a positive role in society, and this is an unintended consequence.

Hope that helps.

Answer 3

What is ppl?