Being in a business school has made me wiser. But it has also made me critical of the kind of culture we are encouraging. In the midst of all the jargon, politics and business fundamentals that we learn, lies an underlying problem that nibbles at our feet. And that is the idea of more. It is the main ingredient of our capitalist culture. And I think people forget just how dangerous it can be.
The clearest example for me is this phrase that comes up in almost every class I attend in University.
What is the need that this business is trying to satisfy?
We really get carried away with the word “need” don’t we? Because in reality there is very little we need. Everything else is simply a want. And as we become more affluent, our list of wants becomes longer. But we don’t stop to think about who pays the price for our greed.
When we use money, we automatically have a degree of separation from the actual opportunity cost. We think that if we spend $50 on this, we lose out on the opportunity to buy something else. No. The real opportunity cost is far worse than that. Because if we are willing to spend on something we want, the demand for it will increase. And this results in either a decrease in the opportunity to use our limited resources for the people who need it or to preserve our fragile environment or both.
This has been the predominant debate I have with myself since I started University. Because like everyone else, I want to live comfortably, have nice things and provide a great life for my family. But I also know that in a small way, I am contributing to this big and dangerous problem.
I actually had a debate with a friend from Ecuador (while I was on exchange) regarding this topic. And he mentioned something to me that could either be seen as wise or foolish. He said,
“My friend, you may see this as greed. But others see this as an opportunity to create a better life for themselves now because no one is promised tomorrow. Think about the people who come from nothing and now have everything. To them, they deserve this luxury. They don’t see it as greed. They see it as a reward for their hard work. And who are we to question that?”
You may think that it’s hard to disagree with that. But I still do. Because if we are so cavalier with our choices, how can we bring future generations into this world and think they would have a good life if we strip our earth of its sustainability now?
I don’t think anyone has the answer to this. I definitely don’t. I just have a very strong opinion about it. But I would encourage all of us to spend some time thinking about this and what is required of us to keep our world and the people who live in it going for generations to come.
Nicholas Patrick
TRS Contributor