The Impact and Evolution of 'Greed is Good' in Film and Society

The Iconic Line from Wall Street

In the 1987 film Wall Street, the memorable and controversial line 'Greed is good' was delivered by the character of Gordon Gekko, portrayed by actor Michael Douglas. This line has since become ubiquitous in popular culture and remains a potent symbol of corporate greed and financial excess. The film, directed by Oliver Stone, is a masterclass in both cinematic storytelling and the exploration of ethical boundaries in the financial world.

The Origin of the Speech

The speech delivered by Gordon Gekko is based on a distorted version of a commencement address given by Ivan F. Boesky, a well-known American financier in the 1980s. Boesky, known for his role in arbitrage and takeover bids, was eventually involved in numerous financial scandals. In his actual speech, he said the following:

The point is, ladies and gentlemen, greed is good. Greed works. Greed can destroy nations, but greed is inevitable. It’s a hard thing to fight and it's worse than a thousand evils because it’s a tantra of the soul. Goodbye.

This speech, which was later cited by Oliver Stone in the writing of Wall Street, underwent significant alterations to fit the narrative of the film. The film itself was criticized and praised in equal measure, with many viewing it as a satirical exploration of the excesses of corporate America, while others saw it as an endorsement of such practices.

The 'Greed is Good' Speech in Full

Here is the full speech delivered by Gordon Gekko in the film:

Teldar Paper, Mr. Cromwell, Teldar Paper. Teldar Paper has 33 different vice presidents each earning over 200 thousand dollars a year. Now, I have spent the last two months analyzing what all these guys do, and I still can’t figure it out. One thing I do know is that our paper company lost 110 million dollars last year, and I’ll bet that half of that was spent in all the paperwork going back and forth between all these vice presidents. The new law of evolution in corporate America seems to be survival of the unfittest. Well, in my book, you either do it right or you get eliminated. In the last seven deals that I’ve been involved with, there were 2.5 million stockholders who have made a pre-tax profit of twelve billion dollars.

Thank you. I’m not a destroyer of companies, I am a liberator of them! The point is, ladies and gentlemen, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms, greed for life, for money, for love, for knowledge, has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA. Thank you very much.

Context and Impact

The film's release in 1987 coincided with a period of profound change in the financial world, as deregulation and the rise of the modern corporation took center stage. Gekko's portrayal, with its raw ambition and willingness to bend (if not break) ethical boundaries, captured the zeitgeist of the time. The line 'Greed is good' has since become a cultural touchpoint, frequently referenced in political debate, financial discourse, and everyday conversation.

However, the impact of the speech extends beyond mere entertainment or contextual critique. It sparked a broader discussion about ethical conduct in corporate America and beyond. Critics argue that the line has been used to justify unethical practices and a ‘get rich quick’ mentality, while proponents of free market capitalism see it as a rallying cry for innovation and economic growth.

Further Context and Analysis

For those interested in the deeper context and analysis of the speech, two additional sources are highly recommended:

"Wall Street's Gekko" by The Pop History Dig

"American Rhetoric: Movie Speech: Wall Street" by American Rhetoric

These resources provide extensive background and additional analysis of the speech and its place in the broader context of financial and cultural discourse.

In conclusion, the line 'Greed is good' remains a powerful and polarizing statement, reflecting the complex interplay between ambition, ethics, and the pursuit of profit. Whether used as a cautionary tale or a celebration of economic dynamism, it continues to capture the public imagination and stimulate debate about the role of greed and moral responsibility in our society.