Greed Is Good But Envy Is Bad

“Greed is good,” said the Ivan Boesky-inspired Gordon Gecko in the first “Wall Street” movie. And greed certainly is one of the prime movers behind many a successful business, along with altruism, curiosity, necessity, etc.


Greed is absolute. Wanting more for the sake of it.

But “Envy is bad,” says yours truly.

Envy is relative, and all the nastier for it. It’s about wanting more than your neighbour, even at a cost to yourself.

There’s too much envy in finance. (No kidding, Paul, what an insight!) And this has led to an escalation in salaries and, in consequence, risk taking; an unspoken conspiracy in which senior management encourage gambling by their traders so that they all get ‘rewarded.’

You know what though? Just divide all bankers’ pay packets by ten. And since envy is relative no feelings will be hurt!

I don’t really do envy myself, see my Cheese blog in which I explained my retirement needs as cheese, wine, books (mostly fiction), oh yes, and a swimming pool 😉

P

Total Views: 118 ,

Related Posts

At Last: Education, Education, Education Theresa May wants to bring back grammar schools. According to one poll 60% of the British public agree with this idea. If I'd been asked I would have ...
“Algo My Way, You Go Your Way” My upcoming talk at the Quant Insights conference, 14th October, London, will be "Algo My Way, You Go Your Way - Four Decades in Business." More detai...
All Mod Cons For the UK and wilmott.com it's that once-in-a-generation moment. A new bathroom? No! While Mark Carney performs his fine balancing act of talki...
Sir Bob Geldof, We Who Are About To Thrive Salute ... A big, big thank you from those of us who wanted out of the EU to: Lord Stuart Rose, leader of the Remain camp, for his timely confession Da...
How I Successfully Forecast The Result Of The EU R... Gosh, this is embarrassing. I seem to have done the double. This is a sequel to my blog from last year How I Successfully Forecast The Results Of T...
A Proper Analysis Of The EU Referendum Polls I've been following the polling with obsessive interest. And finding the analysis somewhat feeble. I'm going to very quickly address the topic of poll...
Things That Haven’t Been Said About The EU R... Debate? Debate?? They don’t know the meaning of debate! The two sides have both in their own ways been like broken records. The same old arguments ...
Why I And All My Rich Pals Are Voting To Stay In T... I’m relatively rich. I can afford private healthcare. I don’t have to worry about long waiting lists for operations or the impossibility of getting...