1. If greed in some measure seems to be a rather universal characteristic, is it possible channel or direct it to achieve good results or socially acceptable ends? Explain.

2. The poet John Donne said "No man is an island, entire of itself; every man is a piece of the continent, a part of the main..." As you recall Mr. Stossel's steak dinner, explain what would undoubtedly happen to your personal standard of living if you were live a completely self-sufficient life-style? What would you spend most of your time doing?

3. Would it ever be logical - be in your best interest to turn down a pay raise?

4. Explain how people respond to incentives and how markets turn self-interested behavior to the benefit of consumers.

John Stossel's Video "GREED," by ABC News. 45-minute video

Greed (ABC 20/20 - 1998) (with English subtitles) - YouTube https://www.youtube.com/watch?v=pja_dFqaQ5Y

 

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Answer Channeling Greed for Socially Acceptable Ends Greed in some measure can be channeled or directed towards socially acceptable ends through vario... View the full answer