Greed or avarice is one of the seven deadly sins in Christianity and it is usually

associated with it being undesirable to society. However, in todays world, greed

can be considered as a virtue, observing how the world functions. Greed is
fundamental to how contemporary society operates, without it, humanity would
not have achieved the current quality if life enjoyed by most people. Greed is a
constant. Will one ever turn down a raise? Probably not. Greed is innate. Greed
compels people to compete and fight for a larger piece of pie and this is how
society had developed over the years. Therefore, this leads to my point that if we
want to develop, we definitely need more greed to fuel the drive for better lives.
Firstly, modern society is built on the notion of greed and materialism. Greed
drives individuals to seek greater wealth to enjoy a higher standard of living. In
pursuit of their own desires, it made the economy better off in the long run. As
people wanted to achieve more wealth, they began working harder than before,
resulting in a spike in productivity. As output from firms increase, the revenue
earned is also increased. Workers and owners begin to enjoy a rise in their
income as markets boomed resulting in wealth distribution in the population.
Similarly, from the economics point of view, this is supported by the Invisible
Hand mentioned by Adam Smith. It states that the individuals effort to pursue
their own interest may benefit the society more than if they were actually
targeted at benefitting society. As people achieve greater material wealth, they
are then able to afford a greater variety of goods and services, hence increasing
demand for it which leads to the generation of more jobs. This cycle then leads
to a better economy, where society enjoys a better physical and psychological
well-being as their basic needs are satisfied. Therefore, it is only logical for us to
need more greed to develop.
Furthermore, countless innovations today were made due to firms being profit
driven. Firms are willing to take risks while seeking unconventional ways to gain
monopoly of the market. Money is poured into research and development of
current technology to make it more efficient and feature packed. By increasing
the features and the range of usability, the products are then able to cater to a
larger audience, leading to a greater demand and eventually greater profits.
Firms also innovate unique and creative products just to ensure a larger share of
the pie. All these progress contributes to the development of industries and in
turn, this would lead to a boost to the standard of living of society as people lives
are made easier and more productive. One notable example can be observed in
the smartphone industry where Samsung and Apple are always competing with
their counterpart to produce the best smartphone of each year. Each and every
flagship phone released by the firms are always feature packed such that they
provide more functionality than before. In addition, we can also see the rise of
small companies like Xiaomi where they too, want to have a share of the pie.
With all the competition around, consumers are exposed to a plethora of choices
as compared to the recent past. Therefore, not only does greed stimulate
innovation, it also provides a competitive playing field for firms.
On the other hand, more greed might not necessarily be a good thing as it brings
about social issues like exploitation and social inequality where the treatment of
each individual differs with their economic status and standing. It is a zero sum
game. For one to gain more and fulfil ones excessive desire, another must lose
that privilege. Unrestrained greed will lead to actions causing grievous harm to
others. Sweat shops, unsafe working conditions and wage cuts are all examples

of them. As people are blinded by their own greed, their social conscience is
dominated by avarice which results in the lack of consideration for others around
them. This can be seen in the recent Foxconn incident where the workers in the
Asia assembly plants are subjected to inhuman working conditions resulting in
several workers jumping to their deaths. The absence of consideration coupled
with overwhelming greed lead to undesirable social issues
However, a society without greed would suffer as well. Greed provides the
motivation to achieve a better living standard. It drives people to strive for
excellence and encourages entrepreneurship. Rather than everyone being
fixated on just one pie, entrepreneurs come up with ways to get a larger portion
for themselves, such as creating more and bigger pies for the economy. Although
they are the main beneficiaries of their own actions, there are also spill over
effects which enabled everyone to gain more than before. Hence, greed leads to
ambition which inspires people to be the best they can be.
All in all, uncontrolled greed is detrimental to society however, the lack of greed
is also harmful to the society due to the lack of incentive, hence humans must
find a balance between greed and morals to fully maximise the benefits of it.
Everyone has their own greedy impulses, theres no other society where another
quality dominates individual greed. Therefore, the pragmatic approach is to view
greed in a positive light and to accept that for society to develop, we do need
more greed. However, we must always keep in check of it so as not to be
consumed by it. As mentioned by a blogger Sally Kohn, what are the values do
we hold alongside greed as a society so that we operate for the better good of
everyone? Thats what society has to answer as we progress in the future.