Greed contributes to all the economic and financial woes of prosperous societies. The United States and other rich countries produce much more than is needed to support all of their people in comfort, so if desires were all truly modest, there would be few problems. Greed encourages people to decide that their own share is too small. Greed influences the popular desire for GDP growth (more, faster), financial gains (higher house prices as a human right) and total economic security (guaranteed pension, come what may). Voters’ greed encourages governments to spend more and tax less.
A U.S. court decision to dismiss a case alleging that AIG’s (AIG.N) sharia-compliant businesses promoted religious doctrine looks likely to boost confidence in the industry and lift sales of Islamic products in the longer term.