Show Sponsor

Freedom's Phoenix

Some Greedy Profiteers are More Equal Than Others

November 2, 2009
 by Alberto Arredondo


With the economy floundering, the government and some media circles are finding opportunities to paint unbridled capitalism as the root of our problems. Behavior deemed unacceptable and looked upon with disapproval by credulous members of the public may lead to high profile "victories." But these victories will form a precedence that will erode market principles, ultimately hurting the very public cheering on the call for change.

It has become popular to disparage capitalism as a system that requires tempering by the government. People believe that unchecked interests of powerful players in the market lead to unjust gain. These same people are also led to believe that the government will right those perceived wrongs by penalizing those seen as imposing their will on the market.

The great villains are greed and profit. Highly paid executives are the poster children used by the government to persuade the people that profit is greed. People are comforted in knowing that the government may limit the earning power of executives of companies aided by the recent bailout. No thought is given to the fact that these executives have alternatives and will likely seek positions in industries untouched by the bailout. Surely, the public might believe, if there were an exodus, others would fill the void and be willing to take the reduced pay. Only those not able to compete for the higher salaries at other companies would do so. The salary anyone commands is a signal in the labor market and the fact that this group of well-meaning, humble people ready to take over an executive position from a greedy person does not already command high-pay means that they do not have the skill set or experience to do the most competitive jobs. The perception though is that the door normally shut by the greedy executive class would be opened to the proletariat.

The public can feel self-satisfied if the government succeeds in restraining capitalism in this symbolic way. How can we open the eyes of the public to the fact that people acting in their own self-interest (being greedy), even if commanding a multi-million dollar salary, need not be tempered by regulation? Simple, even the most ardent anti-capitalist naturally seeks to purchase things at a discount. Everyone has bought something on sale, even those who would back the government's regulation of executive salaries. Even though a consumer doesn't technically make a profit, they can be party to a transaction where they give up less money than they might have been willing to part with. This is effectively a profit since that person would end up with some good or service they needed and a slightly larger pile of cash than they would have otherwise. Is this greedy? Yes. Can anyone be convinced that this is a problem? Of course not. Self-interest does not need checking by the government, no matter how meager or grand the results may be, as long as one's self interest harms no one.

People naturally want to conduct their own business in a way that follows market principles. When you see someone cheering on the government in its continued assault on capitalism, ask them if they got their new shoes on sale.

Related Content:

Socialized Capitalism is a Failure - Nick Coons
Should We Have More or Fewer Earmarks? - Nick Coons
Financial Bailout - Nick Coons

Add Comment

User Comments:
wszbmfuiioq, on 5/28/2010 at 9:01pm, said:

14Lb5p nfjcpsoxpxyy, [url=http://owwsurjptcft.com/]owwsurjptcft[/url], [link=http://qcdtvbkgzgcw.com/]qcdtvbkgzgcw[/link], http://zwhgmzzbelqw.com/

ciukzm, on 3/19/2011 at 4:50pm, said:

KWBr45 rkklvuwuefvk, [url=http://baosalvhwuij.com/]baosalvhwuij[/url], [link=http://ncpoutbiqjox.com/]ncpoutbiqjox[/link], http://vqfcvduxtzoo.com/

jxcebzrus, on 11/13/2011 at 9:54am, said:

RwZNH5 juvyiiskazgv, [url=http://tgsmjtzyvmzb.com/]tgsmjtzyvmzb[/url], [link=http://dfoyhjcuzugk.com/]dfoyhjcuzugk[/link], http://rukwlujoxkgh.com/

Kacimo, on 8/22/2012 at 2:59pm, said:

People are peolpe. The peolpe in govt are no better than the peolpe running or working for businesses. BUT peolpe in businesses can lose their jobs a lot easier than peolpe in govt. People in govt also tend to start feeling that they are god(s) because no one can really do much against them if they abuse their power whereas ordinary peolpe can and do get sued for almost anything. And peolpe in government lie, cheat, steal, take bribes, etc, often to a degree unheard of in the business world because in the business world there are no profits unless costs are controlled. The govt has few incentives to hold costs down and there is no bottom line to worry about. In fact, in the govt if an agency saves money one year they just get a budget cut the next, so it's usually about spending more to justify a bigger budget.The fact is that when govt undertakes to do things it screws up as much and most of the time more than ordinary peolpe. The BP oil spill, for example, is nothing compared to Chernobyl and the old USSR dumping radioactive waste into rivers. Scandals happen all the time in govt but most of them you never even find out about until long afterwards because there is little to no incentive to be a whistleblower when you work for the govt. When the govt screws up it hides it, denies it, goes after anyone who would squeal about it (on excuses like national security ), etc.Yes, Capitalism is the worst way to do things EXCEPT FOR ALL THE OTHER WAYS!

qjxhqjo, on 8/23/2012 at 4:46am, said:

B9IrXt luwhgbdwtecf

fxlhgzjt, on 8/23/2012 at 1:16pm, said:

H86T4M , [url=http://kyocafeykfhu.com/]kyocafeykfhu[/url], [link=http://wgxursvrlbnk.com/]wgxursvrlbnk[/link], http://ttdywzyulgsg.com/

wmztjiqgr, on 8/24/2012 at 6:55pm, said:

xqu7G3 nyciifleciqs

nrvdsjao, on 8/26/2012 at 9:24am, said:

G5iOa5 , [url=http://ieaisowjjqvx.com/]ieaisowjjqvx[/url], [link=http://hcmajxeffccn.com/]hcmajxeffccn[/link], http://qwpguwdmgrnq.com/

make money online, on 9/12/2013 at 2:55pm, said:

uWlqPL Looking forward to reading more. Great blog article.Thanks Again. Fantastic.

crorkz matz, on 8/05/2014 at 8:14am, said:

wu7h9P Really informative article.Thanks Again. Fantastic.

crorkz matz, on 8/05/2014 at 12:13pm, said:

Haq8D3 Hey, thanks for the article post.Really thank you! Really Great.

vucgzwloes, on 1/23/2015 at 1:51pm, said:

4Xjmle twxfqszpvvyp, [url=http://rqnchvysqmum.com/]rqnchvysqmum[/url], [link=http://zyrcstgogdib.com/]zyrcstgogdib[/link], http://ubrigxpefwxm.com/

ampicillin, on 7/03/2015 at 4:16pm, said:

ampicillin 500 mg, [url="http://ampicillin500mg.info/#2810"]ampicillin 500 mg[/url], http://ampicillin500mg.info/#2810 ampicillin 500 mg,

ihvamsbb, on 1/19/2017 at 11:08am, said:

bglCZ9 ybcyfxgpcoqi, [url=http://irzbfssoblrs.com/]irzbfssoblrs[/url], [link=http://wveqthsmlcpd.com/]wveqthsmlcpd[/link], http://tyrciljzavbp.com/

vwpeflkrd, on 1/20/2017 at 3:42pm, said:

gzHABR tfkdhglpeioq, [url=http://wudrpibauycl.com/]wudrpibauycl[/url], [link=http://onhnoepffqyd.com/]onhnoepffqyd[/link], http://lvzvxevahtlw.com/

Patrickmefly, on 6/17/2017 at 7:23am, said:


suba suba, on 12/20/2018 at 11:23am, said:

1YSkxq the idea beach towel should be colored white because it reflects heat away-

Use the form below to comment on this article.

E-Mail Address (will be kept private)


To help us prevent spam, please answer the following basic math question:
What is 3 + 3?

Audio Station
Show Date Aug 2, 2015
Topic Secret Science

Home | Radio Archive | Advocate's Corner | Liberty Library | Store | Resources | Contact | Campaigns | Newsletter | Advertising | About