ABSTRACT

Changing economic and ideological conditions turned greed from one of the deadly sins into a passion from which society derived social benefits. There were three stages in the construction of the notion of the social utility of greed: (1) the self-sufficient community; (2) the mercantile state; and (3) commercial society. The acquisitive passion was seen to produce social benefits if it was played against itself within a framework of mutual dependence and competition. This justified its re-conceptualisation as self-interest. A dream was built on the idea of greed as instrumental in establishing material and immaterial progress in society.