greed has destroyed the world’s financial system it has created
‘Capitalism Has Degenerated into a Casino’
Nobel Peace Prize laureate Muhammad Yunus says that greed has destroyed the world’s financial system as Spiegel Online reported: http://www.spiegel.de/international/business/0,1518,583366,00.html
My question:
Degenerated from what? From profit maximization out of greed to profit maximization out of greed? If “greed has destroyed the world’s financial system” it has only destroyed that what it has created, hasn’t it?
His diagnose:
Today’s capitalism has degenerated into a casino. The financial markets are propelled by greed. Speculation has reached catastrophic proportions.
His prescription:
socially minded companies, where earning as much money as possible can only be a means to an end, not an end in itself. One has to invest money in something meaningful – and I would make a case for it being something that improves the quality of life for all people
But Mr Yunus has nothing to tell us about how to handle
the cause: greed.
Buddha and Epicurus tackled that question pretty efficiently.
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