Greed: Wall Street Asset or a Spiritual Pitfall?

Greed is a complex concept, often seen through very different lenses depending on the context. From the infamous quote in the movie Wall Street - "Greed is good" - to the timeless wisdom of Scripture, greed is portrayed both as a driver of progress and as a dangerous, destructive force. How do we reconcile these two views, particularly when navigating the world of finance?

Wall Street’s Take on Greed: “Greed Is Good”

The famous line from the 1987 film Wall Street—"Greed, for lack of a better word, is good"—has become synonymous with the aggressive pursuit of wealth and success. In this context, greed is framed as a positive force, motivating individuals to achieve more, innovate, and create value. It reflects a worldview where ambition and the desire for financial gain drive competition, which in turn fuels progress and growth.

Even Warren Buffett, a man widely respected for his financial wisdom, echoes a similar sentiment in his famous advice: "Be fearful when others are greedy and greedy when others are fearful." Buffett’s use of the term "greedy" here is strategic, referring to the ability to capitalize on market opportunities. His point is that when others are driven by fear, a contrarian and calculated approach—one that might seem "greedy"—can lead to great financial success. Greed is good, so it may seem, when others are fearful.

However, it's important to note that both Wall Street's version of greed and Buffett’s philosophy require balance. Unchecked, greed in these environments can lead to exploitation, short-sighted decisions, and even economic collapse, as we’ve seen throughout history.

What Did Jesus Really Say: A Warning Against, Greed is Good

In stark contrast, the Bible takes a much more critical stance on greed. In the New Testament, Jesus consistently warns against the dangers of greed, identifying it as a spiritual problem that can lead us astray. Two Greek words used in Scripture, harpagé and pleonexia, shed light on different forms of greed and their harmful effects.

• Harpagé refers to pillaging, plundering, or robbery—a type of greed that takes from others unjustly. In Luke 11:39, Jesus condemns the Pharisees, saying, "You clean the outside of the cup and the plate, but inside you are full of greed and wickedness." They sought outward appearances of righteousness while being consumed by inner corruption, driven by the desire for power and control.

• Pleonexia translates to covetousness or an insatiable desire for more—whether wealth, possessions, or power. In Luke 12:15, Jesus warns a man asking for a share of an inheritance, "Watch out! Be on your guard against all kinds of greed; life does not consist in an abundance of possessions." This caution speaks to the human tendency to place material success above spiritual and relational health, leading to a life that is never truly satisfied.

Reconciling the Two Perspectives: Greed is Good or Spiritual Problem

So how do we reconcile these vastly different views of greed?

In Wall Street culture, "greed is good", is often equated with ambition and drive. It can push us to innovate, work hard, and capitalize on opportunities. I believe these are all good things. But this must be tempered with responsibility and ethical boundaries to ensure that ambition doesn’t lead to exploitation or harm. Because from a Christian perspective greed—whether in the form of harpagé (plundering) or pleonexia (covetousness)—is viewed as inherently destructive. It shifts our focus from God and others to a self-centered pursuit of material gain, often leading to moral and spiritual decay. The warnings from Jesus emphasize that life is about far more than what we own or accumulate.

The key takeaway is that ambition can be healthy when it is aligned with integrity, generosity, and a sense of purpose beyond mere profit. However, when ambition turns into an obsessive, self-serving greed that prioritizes wealth above all else, it becomes a stumbling block to both personal fulfillment and spiritual health.

A Balanced Approach

In the world of finance, ambition and strategic decision-making are crucial for success. But as financial professionals and individuals navigating these realities, we must ask ourselves: Where does our motivation come from? Are we driven by a desire to serve others, steward resources wisely, and honor God in our work, or has a belief that greed is good, begun to take root, leading us away from what truly matters?

As Warren Buffett wisely points out, opportunities arise in times of fear and uncertainty. But Jesus’ teachings remind us that the pursuit of wealth must not come at the cost of our soul. True success lies not in the abundance of our possessions, but in the richness of our relationships, our integrity, and our spiritual well-being.

"For what does it profit a man to gain the whole world and forfeit his soul?" Mark 8:36