Today there are adults — including educated adults — who explain multimillion-dollar corporate executives’ salaries as being due to “greed.”He's right--I am greedy and I want a new car, but that doesn't mean Porsche is going to give it to me. Read the whole thing, and ask yourself this question: if the people who determine that oil companies are being "greedy" by making the same profit margin as they always have were really in charge, how much would a gallon of gas cost?
Think about it: I could become so greedy that I wanted a fortune twice the size of Bill Gates’s — but this greed would not increase my income by one cent.
If you want to explain why some people have astronomical incomes, it cannot be simply because of their own desires — whether “greedy” or not — but because of what other people are willing to pay them.
Tuesday, January 23, 2007
It's all so simple
when Thomas Sowell explains it.