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However, as the era of capitalism dawned two centuries ago, the profit motive found an able defender. In The Wealth of Nations, Adam Smith argued that profits are the legitimate return for risk and effort and that the "Invisible Hand" of market forces would convert private greed into public benefits. A century later, Karl Marx was not so sure. Arguing the opposite view, he asserted that labor, not capital, was the essential ingredient that added value to goods or raw materials in the manufacturing process. Thus, in his view, profit was the "surplus value" that the capitalist unjustifiably tacked...

Author: /time Magazine | Title: Time Essay: Profits: How Much Is Too Little? | 8/16/1976 | See Source »

What force then will serve to spread wealth "to the lowest ranks of the people"? The law of the free marketplace, says Smith, by which even greed is predestined to do good. That is because it is based on everyone's self-interest, which he defines as "the uniform, constant and uninterrupted effort of every man to better his condition." His logic runs like this...

Author: /time Magazine | Title: Each Man for Himself | 7/4/1976 | See Source »

...conceivable that such an appearance could have been someone's idea of a joke. Grizzly, however, bears no internal evidence that the film makers possess a sense of humor. The only human emotion apparently familiar to them is greed. They cast the movie either with worn faces (George, Andrew Prine, Richard Jaeckel) or yokels who must have been discovered hanging around the Georgia location. Then they turned their attentions to having most of this motley assembly torn asunder by a marauding bear who is, in fact, rather cute. Since the bear seems such a regal, friendly creature, and since...

Author: /time Magazine | Title: The Theater: Claw$ | 6/7/1976 | See Source »

...reputation as one of the world's most skillful writers. Stead is a connoisseur of the seven deadly sins. She possesses a special genius for decorating the interior of a character's mind, no matter how pinched by wrath, avarice, sloth, pride, lust, envy or greed. Her masterpiece is The Man Who Loved Children (1940), the story of the unhappiest family dwelling in literature since the House of Atreus...

Author: /time Magazine | Title: Books: Out from Down Under | 6/7/1976 | See Source »

...each portrait, in which her subjects try to say something meaningful about themselves--a dubious proposition in which, at least for the onlooker, they don't succeed. Occasionally an isolated phrase, like Lottie's, escapes tendentiousness. Her pronouncement damns men implicitly and reveals a healthy and admiring kind of greed in her own character. She says, "Men go to all lengths to have a woman's beauty; I don't want them to have it all to themselves...

Author: By Anemona Hartocollis, | Title: Notes for Wayward Women | 5/20/1976 | See Source »

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