Unrestrained decadence is often associated with the fall of the Roman Empire and, in contemporary society, human greed has led to disparities of wealth and class and corruption in business and politics. These factors combine to create a general sense of dissatisfaction in society.Know More
In many ways, greed is considered a virtue. According to economist Walter Williams, greed is actually fundamental to the way in which contemporary society operates. It is the basis for favorable economic outcomes.
Despite these favorable economic outcomes, which include higher incomes, better quality of life (in the sense of fulfilling basic needs) and increased personal possessions overall, there has been a gradual decline in self-reported 'happiness' since the early 1970s.
One of the reasons for this is that greed drives consumers into debt. Psychologists have often remarked on the incompatibility of economy and mental health. Some of the impacts of greed in this sphere include depression, hopelessness and despair.
It is also unclear as to how healthy unrestrained greed is for an economy in the long-term. Some argue that a combination of low savings and high debt will ultimately damage the economy for some time to come.
Even so, some economists argue that humans are inherently greedy and that no truly altruistic or equal society has ever existed.Learn more about Social Sciences
Some examples of the oligarchic system of government can be found in Russia following the fall of the Soviet Union when a group of private businessmen dominate both wealth and political power in the Russian government. In the Russian example, oligarchs are identified as business magnates perceived as close to the current form of government. As of 2014, 110 Russian billionaires account for 35 percent of the country's wealth.Full Answer >
The scientific revolution encouraged people to think for themselves, analyze society and reconsider previous beliefs about the world. This led to a diminished capacity of politicians and religious leaders to influence the thoughts and behaviors of people. The period marking the introduction of independent and analytical thinking is also termed the Enlightenment.Full Answer >
A good citizen is a person who obeys the laws of his country, contributes to society and participates in public affairs with wisdom. Good citizenship is closely tied to the concept of civic duty, the idea that citizens have responsibilities they must fulfill with regard to their country.Full Answer >
Technology is important in today's society because it creates business competitiveness, economic growth and addresses the challenges of the present. With economic growth, a country is able to create more employment for its people.Full Answer >