We have had two threads going that are related: the role of "greed" in society and "standard of living" (in Denmark).
First, let's make a distinction between "greed" and "self-interest". For this theory, I will use the Wikipedia definition of greed: "Greed is the selfish desire for the pursuit of money, wealth, power, food, or other possessions, especially when this denies the same goods to others. It is generally considered a vice, and is one of the seven deadly sins in Catholicism."
Let's just assume that healthy "self-interest" is universal. It's not good or bad, it just is.
It seems that lack of "greed" is what defines the "better standard of living" societies like Denmark, while excess "greed" defines the worst "standard of living" societies such as Zimbabwe.
Socialism combined with greed never works. Socialism on a large scale never works. Socialism is collectivism, with the people who propose or control it looking to take advantage of others.
In cases like Denmark, it may work to a certain extent because the culture generally dislikes greed, and will naturally limit the amount of greed wherever it occurs in their society.
On the other hand, the United Stated has gone a long way in the past 50 years in moving from "self-interest" to a "greed" oriented culture. Thus we are moving from the type of society of Denmark, towards the type of Zimbabwe.
And our socialism will continue to grow, as socialism is generally a device used by the greedy. The poor are like the suckers of a ponzi scheme who believe that they will gain from socialism, and the elite plutocracy are the greedy ones who know that they will benefit. And both of those groups feel justified in their opinions by the greed of overpaid hedge fund managers, CEO's and Wall St...
Bottom line: Greed and the perception of excess greed are a good counter-indicator of a society's standard of living (and happiness if you like). And the US is going in the wrong direction. Greed is detroying us.
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