Every individual necessarily labors to render the annual revenue of the society as great as he can. He generally, indeed, neither intends to promote the public interest nor knows how much he is promoting it. . . . He intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. For by pursuing his own interest, he frequently promotes that of the society more effectively than when he really intends to promote it.
Now, Gordon Gekko, featured in the 1987 movie Wall Street, said:
The point is, ladies and gentleman, that “greed” - for lack of a better word - is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit.
Wall Street (and much of Main Street) is packed with Gordon Gekkos, creating a perverted invisible hand that is wrecking the economy, the job market, and everybody’s pensions.
(Adam Smith’s lines are from his book The Wealth of Nations, 1776, which we took from page 131 of God, Governance, and “Economic Man” by Gene W. Heck. University Press of America, Inc., 2009. Gordon Gekko’s lines are from page 4 of The Age of Empathy, by Frans de Waal. Harmony Books, 2009.)
For a brief biography of Adam Smith, click here. For images of and relating to Adam Smith, click here. For a brief biography of Frans de Waal, click here. For images of and relating to Frans de Waal, click here. For a bit about the movie Wall Street, featuring the character Gordon Gekko, click here. For images of Michael Douglas playing Gordon Gekko, click here.
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