When the movie Wall Street came out the phrase echoed by Gordon Gekko ( magnificently c acted by Michael Douglass) greed is good was somehow taken up by various apologists for Capitalism as the phrase to use. These people possibly never realised who wrote the script. He was neither as fan of Capitalism nor understood how it worked.!
Greed is bad as it produces excesses which either the economy in a macro sense or the corporation will eventually pay for.
In a maco sense if too much income goes towards corporations we will eventually get inflation. I used to argue if too much income went to wages you would get a similar result however labour market de-regulation had made that argument moot. Indeed it could well make the former argument moot.
In a micro sense greed leads to customer dissatisfaction. Even if labour is weak you will simply get problems in other areas such as turnover, sick leave etc.
In recent times we see greed emanate within the gambling industry where poker machined holder target problem gamblers to make money and now we see recent targeting problem loans in a similar vein.
Australian polity has obviously made a decision they do not care about the obvious obnoxious behaviour by the gambling industry but has made it plain reform of the banking industry is coming.
It is hypocritical behaviour.
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