Books and Movies Reviews

Wall Street: Modern-Day Economic Parallels

Wall Street is a movie that exemplifies the greed and corruption of the 1980s as well as the struggle of the i??littlei?? guy to live the American dream.But, unfortunately, the movie appears to be timeless even though it was inspired by the wave of takeovers that occurred in the decade it was made.In fact, the movie provides many modern-day economic parallels, ranging from an economic system damaged by greed and lack of ethics to debt-strapped consumers who want the same things as the one percent of the people who control all the wealth, but are discovering that this isni??t possible.The only difference is that the movie had a moderately happy ending as the filmi??s hero woke up and began to behave more responsibly.However, it may be way too late for this kind of happy ending for todayi??s economy.
Iti??s most appropriate to begin the discussion of the movie with an infamous statement made by the filmi??s antagonist, corporate raider Gordon Gekko who said,
i??The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind.i??
This i??Greed is Goodi?? speech embodies arguments in support of the free market economy.Most notably, economist Adam Smith believed that honest, hard working Americans freed to pursue their own interest would fare better than they would under a system where government regulated what it deemed to be “good”. This line of reasoning concluded that persons pursuing their own interests would promote efficiencies and allocate resources where they would most benefit the greater society.
Yet, today, we know that our entire financial foundation has been severely damaged by unregulated greedy institutions and uneducated and greedy consumer…

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