Greed: “No, I’ll never have enough”

In the third of a series on the Seven Deadly Sins, Jane Williams highlights how Greed destroys both individuals and societies.

Jane Williams

Jane Williams is the McDonald Professor in Christian Theology at St Mellitus College.

In the old Humphrey Bogart film, Key Largo, the villain, played with a vicious childishness by Edward G. Robinson, is asked by Bogie what he wants. Rocco, Robinson’s character, thinks for a bit and then says that what Rocco wants is MORE! ‘Will you ever have enough?’, Bogie asks, and Robinson thinks about it for a moment before replying, ‘I never have so far. No, I’ll never have enough’.

That is Greed, in a vivid nutshell. Rocco doesn’t want anything particular, and he doesn’t value anything in itself; he just has a vast, unspecific, insatiable desire for anything and everything, particularly if it belongs to someone else.

Rapacious greed does not love what it desires; it is driven to possess; it does not value what it has.

Greed, like all the Seven Deadly Sins, is a ‘capital’ or ‘cardinal’ sin, meaning it is a disposition from which destructive, abusive actions flow. Having this over-mastering tendency to Greed makes us act in a whole variety of ways that are damaging and abusive to others and to ourselves. Greed leads to a variety of ‘sins’. Rapacious greed does not love what it desires; it is driven to possess; it does not value what it has, because while there is ‘more’ out there somewhere, greed must have it. It does not care what or whom it attacks or destroys: anything that stands in its way must be obliterated. It does not want to admire or use what it seeks, it merely needs to possess it, and the moment the sought after thing is achieved, all-consuming greed moves onto the next thing, always seeking ‘more’, always despising what it has, as not enough.

Greed is destructive both on the personal front and also as it shapes societies. Individuals ruled by greed cannot maintain love or friendship or loyalty: their eyes are always on the next thing, always hungry for what they have not got. They leave behind them, without a backward glance, hurt and broken friends, family, colleagues, jobs. And if the fallout is clear for all the people around someone driven by greed, it is also obvious that it destroys the greedy, too.

Overpowering greed empties even the greedy of worth; they can never be successful, because they do not have what they want – everything.

Nothing can ever satisfy someone consumed by greed; there is no rest, no peace, no pleasure, because the world is full of things still to be grabbed at. Jesus is quoted as having said, ‘Where your treasure is, that’s where your heart will be’. It’s a warning to beware of what you long for, because we are so powerfully shaped by our desires. But if all Greed longs for is ‘more’, then, in the end, the greedy person or society has no heart at all. It is shaped only by a drive for possession, opening up a vast and echoing emptiness where an actual longed-for being or thing should live. Overpowering greed empties even the greedy of worth; they can never be successful, because they do not have what they want – everything.

It is obvious how Greed is deadly for individuals, but it is also deadly when it becomes a motivating force for society at large. The media have recently been talking again about ‘greedflation’. The theory behind the term is much debated, but the word itself is instantly memorable. Institutions that are governed primarily by the need for ‘more’ drive an insatiable economy, always needing more consumers, more profit, more rewards. Dissatisfaction and envy are the necessary tools of a society, an economy, of Greed. Individuals and groups that try to opt out of this out-of-control consumerism are viewed as a threat, and must be diminished, dismissed, cast out. It is dangerous in such a society ever to ask, ‘Do we really need more?’ That is the Emperor’s New Clothes question, which must be avoided at all costs. Surveys that ask people at different income levels whether they feel that they have enough nearly always find that everyone would like just a little bit more. Everyone would like to be at the next level up of income and possessions; but if they achieve that next level, then, strangely, they find that it is actually the level above that that really want.

Contentment lays an axe to the roots of Greed. It allows us to see what we have and value it.

The World Happiness Report, which has been regularly updated for the last 10 years, works with a complex set of definitions of what makes for happiness, for individuals and for societies. Finland regularly tops the chart of Happiest Countries in the world, which Finns find a bit puzzling, apparently. They don’t see themselves as cheerful, jolly people, but they do speak of a national characteristic that might be described as contentment. Contentment lays an axe to the roots of Greed. It allows us to see what we have and value it, rather than despising it because there are things we do not have.

One of the values that The World Happiness Report notes as making for greater happiness is altruism – doing good and receiving goodness from others makes both parties happier. The Christian tradition has known this for a long time. Cardinal Sins have their opposing Cardinal Virtues, dispositions that we can cultivate to help us to free ourselves from enslaving habits, like Greed. ‘Charity’ is the Cardinal Virtue that undermines the sin of Greed. When we give to others from our own resources, of time, money, attention, care, prayer, help of any kind, we begin to loosen the deadly grip of insatiable Greed upon ourselves and our world. Greed can’t live alongside Charity, or altruism; charity sees real people and situations in need, and supplies what it can from its own resources; Greed sees only more and more objects to be acquired, never able to see what it already has, never able to share or be content.

Deadly Sins lead to behaviour that makes for misery, both for those driven by them, and for those on the receiving end of them. That is why they are called ‘deadly’. They are not just a bit naughty; they are actively destructive of human flourishing, both personal and communal. There is so much in our society that positively encourages Greed, the reckless desire for More, which can never be satisfied. But there are ways of combatting this most pernicious of habits.

One is the practice of gratitude: instead of thinking about what we haven’t got, or would like to have, or what someone else has, we can think of what we have got, and think of it as gift, something to say thank you for. It’s a good habit to build into every day, perhaps as we go to bed, taking just a few minutes to think about the good things that have come to us that day: a child’s smile, a gleam of sunshine, a hug from a friend or partner, a delicious piece of bread; everyday things that we can take for granted, in which case they go unnoticed; or we can see that they are gifts to be grateful for, which enlarge our spirit and our wellbeing. Gratitude is a virtuous circle: it is lovely to be on the receiving end of gratitude, as well as to practice being grateful. And gratitude often leads to another excellent practice for undermining Greed, which is charity, or altruism. If we are learning how to say thank you for what we have, we may also want to share what we now notice that we have. If we’ve given the gift of gratitude, and seen how it makes us and the receiver feel, we may want to extend that further and further. Worth a try?

Explainer

Economics

Culture

16 January 2024

6 min read

How to pick an economic approach that really adds up

Assessing doughnut economics, Paul Williams asks what’s the economy for and who does it really serve?

Paul Williams

Paul Williams, the CEO of Bible Society, worked for over a decade in business in London and then as an academic theologian in Canada.

a round table with empty chairs is seen from above. An orange is the only item on it.

Meina Yin on Unsplash.

“Anyone can see that our economic system is broken.”

This is the conclusion of Kate Raworth, author of Doughnut Economics, and her assessment has garnered positive endorsements from figures as diverse as George Monbiot, Andrew Marr and Sir David Attenborough.

Yet to judge by the discussion surrounding the Chancellor’s Autumn Statement, our political class is not included in this broad perspective that Raworth claims. In what is widely understood as the early skirmishes of an election campaign, anticipating the moment when the country’s voters have another opportunity to indicate the direction of travel they hope for, the focus is on who will be better or worse off by this or that tax cut or benefit change. If anything is broken it is not the economic system but something like ‘the government’s economic management’ (Labour) or ‘public sector productivity’ (Conservative).

If you are worried, as Raworth is, by “relentless financial crises,” “extreme inequalities in wealth” and “remorseless pressure on the environment” then it seems that both the government and the opposition believe that the solution is more economic growth, albeit with some barely discernible differences in fiscal and regulatory policy.

Our contemporary political discourse is dominated, regardless of party, by the mainstream economic paradigm in which the market generates economic growth and the state functions to keep things on track by taxing and redistributing some of the surplus to those who for whatever reason didn’t do as well as others in the process. It also provides some additional incentives to business and other organisations to act in the public interest, for instance by subsidising green energy or taxing fossil fuels. Both parties, it seems, support this approach. The difference between them concerns how best the state manages the economy to get the most out of it, how the resulting surplus is distributed, and what kind of further incentives are needed.

Visualising doughnut economics

An economics diagram in the shape of a doughnut.

Source: Doughnut Economics Action Lab.

For Raworth, on the other hand, the first thing to ditch is the assumption that economic growth is the right goal to pursue. The ‘doughnut’ of doughnut economics is an alternative to GDP as a measure of progress. It name is derived from the visual depiction of the idea of an economy that operates in the space within two limits – ensuring the human rights of each person on the one hand, and staying within the means of the planet on the other. This concept refuses to conceptualise the economy as a closed system in distinction from the social and environmental systems on which it depends.

Raworth also wants to shift the emphasis away from the individual rational chooser of economic theory toward a more social understanding of human flourishing. And in direct contrast to the mainstream paradigm sketched above, in which the market’s job is to deliver economic wealth and the state’s job is to worry about distribution and regulation, Raworth wants an economic system designed from the outset to ensure a more equal distribution and to actively regenerate the environment.

The economic system itself is like an engine that can be put to whatever purpose you want. It generates wealth and wealth can be put to all kinds of uses, good or bad.

How might we evaluate this? Nobody disagrees that financial crises, extreme inequality and environmental damage occur and are bad. A good number of mainstream economists find Raworth’s aims laudable and worth pursuing, because we do need a better measure of success and improved models of human behaviour and ways to incorporate and limit externalities like carbon emissions. Yet they also find her analysis of economics a caricature, as many of the developments in economics over the last few decades seem to be ignored.

For her harshest critics, Raworth fails to give due credit to our current economic system for the incredible reduction in global poverty that it has already enabled, provides very little by way of actionable policy ideas, and is full of erudite but wishful thinking.

Yet the popularity of Doughnut Economics reflects a deep sense amongst many of us (some mainstream economists included) that something is seriously wrong, alongside an instinctive identification with the kind of values and changes that Raworth seeks.

The vital question is: what is our economy for? If we can get a better sense of what purpose we want the economy to serve, it may prove easier to identify whether it is achieving that, or is in some sense ‘broken.’

But to ask this question is immediately to step away from the mainstream paradigm that dominates our public discourse in framing the economy. For mainstream economics, questions of purpose are ethical questions and those questions are explicitly left to the actors within the economic system and the state acting on their behalf. The economic system itself is like an engine that can be put to whatever purpose you want. It generates wealth and wealth can be put to all kinds of uses, good or bad.

These ancient texts suggest that our mainstream paradigm is seriously adrift if it imagines that our economic system is morally neutral.

For many people the idea that the economy itself can be separated from ethical questions will automatically raise an alarm. Certainly, for Christians it ought to. The Bible firmly resists the idea that wealth and its generation is morally neutral. Even the most superficial reading of the Scripture alerts to the inherently spiritual and moral quality of economic activity. Fruitful work is part of what it means to be made in the image of God in the garden of Eden. The product of work is offered to God in worship. The Law is full of commands to deal justly, use fair weights and measures, consider health and safety in the building of a house, and give yourself, your family and your animals a rest (to name but a few). Jesus tells us that you cannot serve both God and money. The pictures of the New Creation in both Old and New Testaments include economic imagery – The Old Testament book of Micah envisions an end to war with everyone living “under their own vine and fig tree” (a vision of peace and economic flourishing) and the New Testament book of Revelation depicts the product of human work being offered up in worship before the throne of God.

Overall the Bible sees the economic, social and environmental dimensions of life as interwoven and interconnected. Take the Sabbath, for instance. It is not only workers who get (or are commanded to take) a Sabbath once a week. The command extends to the whole community - and even to animals. Every seven years, the Sabbath Year provides a rest for the land and for those struggling with debt – the land must be fallow and allowed to regenerate, and all outstanding debts cancelled. Sabbath and Jubilee are deeply intertwined (the Jubilee was effectively a sabbath of sabbaths, taking place after seven sabbath years) and the Jubilee was the theological paradigm chosen by Jesus to explain his own mission and ministry. Quoting the prophet Isaiah, he said:

“The Spirit of the Lord is on me, because he has anointed me to proclaim good news to the poor. He has sent me to proclaim freedom for the captives, recovery of sight for the blind, to set the oppressed free, to proclaim the year of the Lord’s favour.”

These ancient texts suggest that our mainstream paradigm is seriously adrift if it imagines that our economic system is morally neutral. And Raworth is closely aligned with the biblical vision insofar as she insists on the importance of an economy that exists not for its own sake, in some independent sphere, but explicitly to enable people, communities and creation to flourish together. We need to ask what our economy is for. And this is as good an answer as you might find.