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1、TextAEverypoliticalperiodhasitscharacteristicformofscandal.DuringtheReagandefensebuildupofthemid-1980s,thescandalofthedaywasnwaste,fraudandmismanagement'*atthePentagon,symbolizedbytheinfamous$640toiletseat•Amidthegeneralembarrassmentandexcuse-making,onl
2、yonedefensehawkwasboldenoughtodeclarethatwasteandfraudwereactuallygoodthings•HWeneedmore"ofthem,wroteEdwardLuttwakinCommentary.Ifyou*regoingtobuildastrongerdefenseandbuilditfast,abitofcorruptionisanecessaryby-product•Today1scharacteristicformofscandalis
3、financialabuseandexcess.SowhereistheLuttwakoftodaywhowillcutthroughallthedemagogueryandthewhining,theoutragedcriticismandthemealymouthedapologies,andsay,HLook,youwantavigorousentrepreneurialeconomy?•'Abitofexcessisanecessaryby-product•〜'Weneedmore"finan
4、cialabuse—itisasignthatcapitalismisworking•Whohasthecouragetomakethisargument?Iamnotthatman.Butif1werethatman,thecasewouldrunsomethinglikethis:themagicofcapitalism,asexplainedbyAdamSmithandhisfollowers,isthatitchannelsindividualgreedintoactivitiesthatbe
5、nefitallofus•'*Greedisgood,ndeclaredMichaelDouglas,playingacorruptfinancierinthemovieWallStreet.Moreaccurately,greedisinevitable.Itispartofthehumancondition.Andinmoderation,economistsargueandhistorydemonstrates,greedisnobadthing.Free-marketeconomiescoul
6、dnotfunctionifwewereallMotherTeresa•Butthereisnothinginherentinthehumanconditionthatkeepsgreedinmoderation.Sotherearelaws,andthereareappearances.Boththeseforcesdrawaroughline—andattempttoplaceit—betweengreedthathelpsotherpeopleandgreedthathurtsotherpeop
7、le.Inevitably,though,somewilltakegreedtoofar.Andthat'sagoodthing(goestheargumentIlackthecouragetomake).Why?Becauseyoucan11regulategreedwithprecision.KeynesusedthetermHanimalspiritsntodescribethemotivationofbusinesspeople.Asuccessfuleconomyneedsaculturet
8、hatencouragesthem,uptoapoint.It'saGoldilocks-typesituation.Youdon11wanttoomuchgreed,andyoudon11wanttoolittle—youwantanamountthat'sjustright•Butthedialsarenotallthatsensitive.Aculturethatencouragesenoughgreedinenoughpeoplewillenco
