Do free markets run on greed? Is greed a good thing?
The answer to both questions is a resounding “no.”
The Gordon Gekko-inspired idea that greed is good is actually a complete perversion of freedom. Free markets don’t run on greed; they run on service.
This might come as a surprise to a lot of students, many of whom are taught in school that love of money is what powers capitalism.
But just think about it: the most successful businesses don’t cut corners—those guys end up in jail.
The people that succeed are the ones that serve their customers. If you want to make money in the long term, you have to focus on making the world a better place.
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