The Root of all Evil?

Money, money, money. Isn't that the topic these days? Whether its layoffs, the economy, taxes, the stimulus, the banks etc... what we are really talking about is $, yours, mine, the CEO, the subprime mortgages.

Is it the root of all evil? Some pretty good evidence points to the affirmative. My personal belief is more in line with a quote from one of the all time greats Mr. George Bernard Shaw "Money is not the root of all evil, rather, it is the LACK of money that is the root of all evil." Semantics you say, word play? I guess, however basic human avarice cannot be wiped away it is a part of our human nature, stronger in some than others. Certainly we could do a much better job of instituting systems to prevent some of the worst abuses but therein lies the slippery slope.

Speaking with an always enlightening friend of mine a few weeks ago and he had mentioned his interest in Plato's concept of the Philosopher King. Acknowledging that it has rarely been pulled off in human history and the historical evidence clearly is stacked against this being a good idea. So, how best to find this balance between social goods (inevitably regulation + state control) and free markets (greed, ever increasing inequalities). Once again, I generally believe that the balance should be weighted towards the markets (even now), understanding full well the dangers with this approach. Thus we have to continue to strive to strike that balance.

I have been advocating raising the taxes on the uber rich for a long time (and no 200k is not uber rich, not in nyc/lndn/sf etc..) - the notion that this will cause an end to innovation and private investment is utter B.S. For example, If you are a private equity guy used to making in the hundreds of millions in good years (taxed at 15%!, no wonder everyone wants to work there:) all of the sudden with Obama's plans you will be taxed at 35% (assuming your accountants haven't created a way out:) you will still be very very very rich by any standard and will not be choosing another profession any time soon.

Ok, I've gone off on a tangent there back to the original point. I think a much needed balance is being worked out now, and am glad it is Obama in the driver's seat rather than the other side (mccain and co). I think his approach has been very good thus far and it speaks volumes to how much people were living above their means (and how concentrated the wealth of the mrkts was in the population) that we have had a 50% sell off in the stock market (so far:( and little to no anarchy, protests, riots etc...

Let's hope Obama's hope and some genuine adjustments can get America back to its roots and move forward in a more equitable and fair manner