Originally Posted by
Endus
Greed has another name. Self-interest. It only becomes "greed" when your own self-interest hurts others at the expense of your own unnecessary gain. For instance, if you've just crawled out of the desert, you don't want a bottle of water because you're greedy, but because you have self-interest in survival, and don't want to die of thirst. The guy who looks at you and dumps the water over his head because he's a little sweaty, that's still self-interest, but it becomes "greed" because he's more concerned about his own self-interest than your (clearly greater) need.
This is an important distinction because self-interest is an important motivational force for humanity, something that's hard-coded into us at an instinctual level. It's possible to quash it, as an individual, but as a society, there will always be those who don't, and so society must take that into account, and provide an outlet and guidance for that self-interest, to ensure that it is productive rather than destructive.
This is where pure capitalism falls apart; there's no such guidance, and it's pure self-interest that wins the day. Which means individuals don't care about the suffering of others or the collapse of the economy, as long as they profit. That's the attitude that led to the Great Depression, and why the Western world is mostly on mixed economies these days.
That doesn't mean we should go with the opposite, communism. That goes too far the other direction, requiring everyone to forgo their self-interest in the name of the collective whole. As seen in the USSR and elsewhere, those who gain power inevitably use that power within the system to secure their positions and selves, because self-interest is a human constant. The theory behind communism is sound; ant colonies work by a similar principle, and they're highly successful as a species as a result. But we're not ants.
So yes; self-interest is good. But we do need to keep some reins on it, to keep it from going too far into the realm of greed.