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Greed is not, of course, an invention of modernity, but the onset of modernity allows for a change in its ethical status. Only within the modern world would it be possible to proclaim, with Gordon Gekko in Wall Street, that “greed is good”; to ancient societies, greed is always sinful (that is to say, always dangerous to the stability of the social order). In other words, the very thing that threatens to destroy ancient societies becomes the very lifeblood of the modern one. Because it involves such a complete upheaval, no other change in Western history, for the Marxist, approaches this one in importance. This type of valuation of the historical shift to capitalism, however, is not confined to doctrinaire Marxists. Even avowedly non-Marxist historians, though they might not emphasize the changing status of money, nonetheless tend to see the onset of modernity—the nascent moments of capitalism—as a time of epochal change, as a shift from a static society to a progressive one. This is what leads Fredric Jameson to claim that “the emergence of the modern world or capitalism, the miraculous birth of modernity or of a secular market system, the end of ‘traditional’ society in all its forms [. . .] remains for us (in the collective unconscious) the only true Event of history.” In whatever language we discuss the changes in society occasioned by modernity, few would dispute Jameson’s claim that it marks the historical shift in the West, leaving, as it does, a gulf between the structure of traditional society (a closed world) and modern capitalist society (an open universe).
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Todd McGowan (The End of Dissatisfaction: Jacques Lacan and the Emerging Society of Enjoyment (Psychoanalysis and Culture))