Greed: The Ultimate Panacea

A Picture of GreedThe pain Michigan has felt from the economic downturn is being mended, in part, by new for-profit career training schools that are eagerly grabbing the opportunity to develop Michigan’s human capital. However, many of these entrepreneurs may be looking to swindle, rather than help their clients, which customers should be weary of when eschewing the older, more accredited institutions whose “primary mission [is] to deliver education, not make money,” Ron Dzwonkowski wrote in his June 18 blog.

Dzwonkowski erred, however, in failing to contemplate why this market should be unique, as it is always possible for a firm in any industry to cut costs by using inferior production methods. Yet most companies labor to create quality products for their consumers; a decision that is motivated by the desire to earn higher profits – the same desire Dzwonkowski sites as the motivation to scam. The activity in this new market (both virtuous and malicious) can be seen as a discovery process in which the entrepreneurs search for the means most efficient in satisfying their ends of higher profits. This will ultimately result in quality career training and a better labor force for Michigan, provided that individuals are free to experiment and find the methods that best fulfill their desires. And as the underhanded newcomers figure out that you can only dupe so many clients, we can take comfort knowing that they are forced to supply their services in the private market, where bankruptcy and failure is an option.


One thought on “Greed: The Ultimate Panacea

  1. Government, however, is innocent of such human foibles as dishonesty and fraud. Just ask the payroll department of the Detroit School System.

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