From a reader today:
Michael, I read much of what you publish on the web and like and respect most of what you do, however this greed thing [of yours] doesn’t hold water. You’ve been reading too much Ayn Rand or something. According to the New Oxford American Dictionary, greedy means: “which implies an insatiable desire to possess or acquire something, beyond what one needs or deserves.”
Greedy is especially derogatory when the object of longing is itself evil or when it cannot be possessed without harm to oneself or others. I agree that a strong desire to excel and achieve one’s goals is laudable, however when extended to the level of greed, not a good thing for any of us. Jim
The best response to this? The cagey economist no longer with us:
I know that clip is a regular around here, but I have not seen anyone come close to countering Friedman’s logic.