Kennedy Butler
EEE-2083
7 December 2022
Discussion Paper 11: Wall Street
Have you ever thought about what it would feel like to be rich? Or what you might do to make it happen? The film, Wall Street, the plot follows that of a young stockbroker, Gordon Gekko. He is ruthless and driven by his desire to beat the competition and take his “rightful'' place at the top. Gekko engages in greedy work with Fox and ends up in some rather shady business endeavors, all according to the phrase Fox teaches him: “Greed is Good”. In the end, he sees the path he took in getting to where he always desired and realizes that pursuing fortune in the way he has done has consequences and it is not actually worth it in the end. This film is entrepreneurial because it first outlines one's desire to obtain riches, and by doing so through what some might call innovative or disruptive means. Second, it is entrepreneurial because it focuses on problem solving, how to achieve desired goals and the steps needed to get there.
This is interesting to me for multiple reasons. First, the fact that one of the central types of themes for this film is “greed is good”. When you think of wealth or riches or maybe even the morality behind it, most societies and most religions would agree that greed is most certainly not good, or as the scriptures say that “it is more blessed to give than receive”. I will discuss this further in the next paragraph. Second, is the idea that there is always a “hierarchy” in business and that if you are not at the top, you are a failure. There is so much competition, innovation and uncertainty in entrepreneurship and I am sure that there are many MANY successful people that are not at “the top”.
Furthermore, this aspect of entrepreneurship affects society in a couple of ways. One being the idea that this constant drive for success creates even more optionality for the consumer. Think about it, the entrepreneur is striving to create the best new toy. Once he has done so, he is “at the top”. However, a competitor comes in and creates an even better, more innovative toy and takes that top spot. The entrepreneur is upset and decides to create a new and even more innovative model to strive to reclaim that spot, thus more options. Next, it affects society in the sense that corporate greed causes inflation and other negative effects of value and pricing to society and its consumers. In addition, society will choose to support or to stifle greed and the idea of the entrepreneur being at the top and owning the game, based pretty much on the value the consumer sees in the product. Basically, the opportunity cost. The interaction between this aspect of entrepreneurship and this aspect of society relates in that the entrepreneur is in control of the sense of creating the options that consumers crave in an effort to obtain success and status, while, at the same time, society ultimately decides if the product “works'' and how the demand will determine its success and the entrepreneurs. Think of a chain reaction.
