Mignon McLaughlin: Greedy U.S. Economy
on Sunday, June 28, 2015Mignon McLaughlin Money Quotation saying capitalism depends on the desire to get more – but lacking morals may mean criminal greed, beyond want. Mignon McLaughlin said:
“Be glad that you’re greedy; the national economy would collapse if you weren’t” — Mignon McLaughlin
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In this quote, Mignon McLaughlin seems to be making a tongue-in-cheek comment about consumerism and the economy. She implies that the entire national economic system relies on people consistently pursuing self-interest through consumer spending driven by “greed.”
McLaughlin suggests that without individuals and households constantly wanting more products and services, the incentive to produce goods and provide jobs would disappear, potentially causing an economic collapse.
While said in a lighthearted way, the quote points to how market capitalism is structured around continually stoking consumer demand and “greed” for economic growth. McLaughlin appears to be acknowledging both the psychology that fuels free market systems as well as the risks if that psychology changes and consumption declines on a widespread scale.
Birthday: June 6, 1913 – Death: December 20, 1983