Source:American Rhetoric– Gordon Gekko’s (played by Michael Douglas) speech, in Oliver Stone’s Wall Street (1987)
Source:The New Democrat
“Gekko: Well, I appreciate the opportunity you’re giving me, Mr. Cromwell, as the single largest shareholder in Teldar Paper, to speak.
Well, ladies and gentlemen, we’re not here to indulge in fantasy, but in political and economic reality. America, America has become a second-rate power. Its trade deficit and its fiscal deficit are at nightmare proportions. Now, in the days of the free market, when our country was a top industrial power, there was accountability to the stockholder. The Carnegies, the Mellons, the men that built this great industrial empire, made sure of it because it was their money at stake. Today, management has no stake in the company!
All together, these men sitting up here [Teldar management] own less than 3 percent of the company. And where does Mr. Cromwell put his million-dollar salary? Not in Teldar stock; he owns less than 1 percent.”
From American Rhetoric
“Gordon Gekko *unknowningly* describes the problems facing today’s private sector, while blasting the bureaucracy responsible for said problems in the first place. A classic speech, both in film and, also, within economic thought.”
Source:Ken Pruitt– Gordon Gekko’s (played by Michael Douglas) speech, in Oliver Stone’s Wall Street (1987)
From Ken Pruitt
“On the Phil Donahue Show in 1979, Nobel Laureate helps liberal host understand what drives real economic growth and prosperity.”
Source:David Lockie– Economics Professor Milton Friedman, on the Phil Donahue Show, in 1979.
From David Lockie
Source:The New Democrat– greed is good. But like with anything, there really is such a thing as too much of a good thing.
Best part of the first Wall Street movie at least and one of my favorite movies of all-time. And whatever you think of the Gordon Gekko character, or even what you think of Michael Douglas who played him, Douglas did a great job. And what made this speech so great was how accurate and real it was. Here are these people trying to make Gordon Gekko look like this greedy bastard when if anything they are just like Gekko.
The difference between Gekko and his competitors, is that Gordon is simply better better and knows what companies are worth buying and how much he should spend on them and how to reform them. So he can make a profit off of them and of course there was some insider-trading involved here. But the facts and points of the Gekko speech are still the same that greed is good and he explains why. That without greed people wouldn’t want things for themselves.
Without greed people wouldn’t work as hard so they could have things for themselves. So they could be as successful as possible and enjoy the fruits of their labor. And enjoy being successful, that we are all greedy, it’s just that some people are better at it than others. And people are all greedy at least to a certain extent, that it’s just a matter of degree. It’s not that we aren’t greedy, but what level of greed is tolerable in a free society that is really the question.