By Edward Hadas
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
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.
The U.S. House of Representatives will investigate radicalization in the American-Muslim community, sparking outrage that the probe is a witch hunt akin to the 1950s anti-Communist campaign. With al Qaeda and its affiliates openly trying to recruit Americans and Muslims inside the United States for attacks, House Homeland Security Committee Chairman Peter King called congressional hearings on the subject “absolutely essential”.