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Quote from J K Galbraith:
The modern conservative is engaged in one of man’s oldest exercises in moral philosophy;
that is, the search for a superior moral justification for selfishness.
I like to point out, that if one creates sufficient security that one has a reasonable expectation of a very long life, and has a reasonably low discount rate on future benefits, then it becomes in one’s self-interest to ensure the interests of everyone else. That is, it is in ones selfish interests to be globally cooperative (provided there are associated strategies to remove any benefits from cheating).
If cheating is allowed, everything breaks down- and I can’t see any other way of characterising our current finance industry except as institutionalised cheating.