On the Notion of Corporate Greed

For some time now, starting in the middle of September and continuing to the present, there has been this movement called "Occupy Wall Street".  At times, things have turned unpleasant, but on the whole it has evidently been was at one time a rather peaceful protest (I myself didn't know about it until October 4th, 2011). When looking into the motives of the crowd, I see various different views being presented. One motive is one that I understand and agree with completely: the want for corporations to not be allowed special favors from the government, such as bailouts, special tax breaks, and regulations that hinder small start-up businesses to grow. The kinds of things the Tea Party was founded on (yes, I’m a sympathizer to the Tea Party spirit, even if some of the individual signs and messages were a bit harsh). However, the difference between the Tea Party and OWS is the fact that the Tea Party is laying the blame for our countries woes on the Government whereas OWS blames them on (big) corporations. Some of these principles have been shown through their “Official” List of demands.

There is, however, another idea that is now a part of OWS that I have serious problems with. Whether it was there from the beginning or, instead, hijacked the movement, I do not know. This idea is about dealing with "corporate greed", using regulations to control business practices and place taxes on the rich and successful (some… interesting ways they suggest going about it can be found HERE). However, these ideas are fundamentally flawed.

Greed, according to the Webster’s Dictionary, is “a selfish and excessive desire for more of something (such as wealth) than is needed”. Greed is a desire, a feeling of want. However, how much is needed is often up opinion, though as a friend suggested that “too much” is when “something becomes all you think about and it consumes you completely.”  

I do agree with sentiment that corporations are not “people”; but this idea, that a corporation is an organization and not a person*, includes the notion that an organization cannot have feelings.
This includes “greed”. Instead, corporations are a manifestation of greed. The same can be said of modern labor unions since they are both trying to acquire the same thing, the most wealth and/or power for the least amount of risk. Because greed is a feeling and feelings cannot be felt by idea, I say there is no such thing as “corporate greed”, but instead just human greed.

The demands of the OWS Protesters all seem to be in an effort to end [corporate] greed, claiming that businesses and banksters owe them money. They petition that colleges and credit cards should forgive their debts, which is basically saying that they get all their tuition and all the stuff bought with these cards paid by the companies and schools.  There is even one instance where a person said that he should have his college paid for because it’s what he wants (hat tip to Ann Althouse for the link). They desire for these things so much, they march onto Wall Street with signs and megaphones, chanting words back at various speakers, demanding they get this stuff. It consumes their lifestyle.

 They essentially are asking for the government to tell certain people how to feel and how to think; to impose what this supposed “99%” thinks of greed on the “1%”, even though the line between greed and it is completely subjective. And here is the crux of the matter: these people want to outlaw greed for others, yet it is this greed, the greed for power over others and for other people’s wealth, that is driving this movement! I like how Milton Friedman put it: "[...] none of us are greedy, it’s only the other fellow who is greedy."
  

But then again, what do I know? I am an idiot after all. 

*On a side note, I do think that corporations should be allowed to make donations towards a candidate as an organization, the same with nonprofits and unions.

Update: An oldie but a goodie: Jason Mattera Bans Greed!