Discuss when greed and selfishness in business go too far and become a hazard to society.

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readerofbooks | College Teacher | (Level 2) Educator Emeritus

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This is a great question and one that is very appropriate for our day and age. The perfect example took place in 2008 when the financial markets crashed. Banks, in particular, for the sake of gaining more money, make bad loans and at one point even monetized them through stocks. This hurt many people, because the markets crashed.

Many would also argue that the banks did a lot of this knowingly, because they knew that they were too big to fail. In other words, they knew that they would be bailed out. No other industry is like this. 

Also, in the 70s and 80s many banks went out and made loans (solicited people to take loans) in poor countries with dictatorships. Eventually these nations could not pay back. They are still in debt because of the compounding of interest. The problem here is that the banks solicited people to take loans, bad loans, and the worst of it is that these people who took out these loans did not represent the people; they were unjust dictators. In the end, banks made out, and the people suffered. Greed was the catalyst. A great book to read on this topic is from David Graeber  - Debt the first 5000 years

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