The virtue of greed

“Wall STREET” co-writer Stanley Weiser shouldn’t have been too surprised that some people idolized Gordon Gekko. (“Repeat After Me: Greed Is Not Good” by Stanley Weiser, Oct. 5). Some viewers will always idolize the powerful and colorful guy, even if he’s also the bad guy. And neither should Weiser be surprised that not everyone disbelieves Gekko’s credo that “Greed is good.”

Greed is inevitable and a powerful motivator. Left as the prime motivator, without laws or regulation, greed overwhelms markets and ultimately, the greedy themselves. But when greed is regulated, when greed is focused, it can achieve good despite itself. If society makes it clear the greedy can achieve their dreams of unlimited wealth, but only by doing something useful, then the greedy will compete on those terms.

The Bush philosophy has been a twist on that old conservative phrase accusing liberals of holding the philosophy that “If it feels good, do it.” Under Bush, personal and sexual hedonism was condemned. But financial hedonism was embraced.

Greed is not good, in and of itself. But the power of greed, and the energy of the greedy, can be focused so that good results. But that requires leaders who are looking out for the country, leaders who want America to be the best place to live, and not just the best place to do business.

Bob Underwood

West Hills