SATIS

Earlier this month, The Economist published an obituary of Marc Rich, who had died at the age of 78.  Who he?  He was aptly named: he was 'king of commodities' and had, during a life 'walking on the blade', at the very sharpest edge of trading in metals, mineral and oil, accumulating a fortune estimated at $2.5 billion, citizenships (Spanish, Swiss and Israeli) and criminal charges (racketeering and trading with the enemy).  He showered Israeli good causes with donations and help, and  somewhat controversially, was pardoned by outgoing President Clinton in 2001, thus regaining entree to the USA.   Clearly, a man of huge ability and 'feline charm', he accumulated much wealth and membership of a network of the very rich and very powerful (King of Spain, ex-head of Mossad).

This obituary set me pondering on the question, When is enough enough?   On a daily basis, the media carry reports of what to many people would be considered excesses. The Guardian of Tuesday 16 July reported the 'UK way ahead in EU's list of bankers paid €1m-plus' -- 2,436 City staff on seven figures, compared with the EU as a whole total of 739.   Meanwhile, from time to time the Euro Lottery reaches  unimaginable and grotesque jackpots in excess of £100 million, while that stylish catalogue of conspicuous consumption,  the FT's 'How to Spend It' magazine,  provides a window onto the life style possibilities of the 1%.  And now we learn that the heir to the throne's royal estate appears to be gaming the tax system in what looks like a similar way to that played by pilloried firms like Google, Amazon and Starbucks -- only unlike them, medieval precedents and royal privilege are invoked. Finally, the utilities firms are criticized for paying excessively generous dividends to their shareholders.

At the same time, the various charities to which we donate are constantly hectoring us with requests for additional contributions.  It's a sad reflection in the world's state of affairs that for charities, whether national or international, enough is never enough.

We seem to live in a world in which dissatisfaction seems to be the default state. For the kind of City staff for whom 7-figure pay is the norm,  or for the Marc Rich of this world, income is a success and status marker in a size matters ranking.  Shareholders in firms like the utilities, which are virtual monopolies, are being showered with largesse at the expense of investment.  It's difficult not to feel that the old slogan, 'Greed is Good' in the newly deregulated world of the late C20th has now become the guiding principle of early C21st society.

It could be -- and will be -- argued that it is  thanks to dissatisfaction that homo sapiens has moved from being a hunter gatherer to a city dweller in a hugely complex global culture, rich with possibilities.  And it was Marc Rich's dissatisfaction with the level of rewards as a trader at Phillip Brothers that led him to achieve such a massive fortune through a buccaneering career as king of commodities.  But he is now in a grave in Israel.  Homo sapiens' exploitation of the planet's resources entails a huge threat to sustainability.  How much damage and exploitation has to be done before we are truly satisfied? When is enough enough?