Greed and the philosophy of wealth

“Observe due measure; moderation is best in all things.” It’s a wisdom that finds support across all ages, stages, and aspects of life."

Locke adopted a “fair usage” view of property. He argued that one can hold any property that meets the following criteria:

1. It can be used before it spoils (e.g., we don’t have huge stores of food that just rots).
2. It leaves “good and enough” for everyone else (e.g., one person cannot own all the land in a country).
3. The property must come from your own work and effort or what he calls “mixing your labor” with that thing (e.g., if you farm a field, the field and its produce become yours).

But, there’s a lot of ambiguity in these rules, and money rather changes things.

The idea that greed is an essential part of being human (or at least an animal) goes back at least to Plato and has a rich philosophical history from there.

"It’s when we think of little else than increasing our experiences and material possessions. This is the point at which greed has come to dominate your life." Richard Dawkins on The Selfish Gene

It’s when we are loath to spend our money and devote all of our waking lives to determinedly accumulating more and more at the expense of our relationships. It’s when we think of little else than increasing our experiences and material possessions. This is the point at which greed has come to dominate your life.

But it’s also when greed replaces our common sense of compassion. It’s when property and wealth become virtues greater than charity, kindness, and solidarity with others.