How much is enough?

Some years ago, there was a story about the matriarch of one of the Philippines’ richest clans, who supposedly admonished her children that they had amassed enough wealth for three generations, so they should pay less attention to acquiring more profit and share or give back to the less fortunate. No one knows if this was true, or if the young successors heed her advice. But the anecdote certainly reverberates as the subject of GREED impales the universal psyche.

The “Occupy Wall Street” movement is spreading like wildfire from the US to Europe and Asia. Undoubtedly, the protest will reach our shores eventually, specially with the Left itching to claim a more widely accepted cause. As usual, the social commentators analyzed the phenomenon, calling it everything from amorphous, fluffy and vague, an “eclectic mix of protesters composed of peace activists, indigenous rights activists, immigrant activists...their politics zigzag wildly” to a “grab bag of sentiments” with causes that are “impossible to decipher.”

I think the protest is clear and doesn’t need more explanation. OCCUPY initially targeted the icons of greed — banks, finance institutions and big corporations which contributed to the loss of jobs and homes of ordinary citizens. It denounced CEOs who have continued to give themselves fat bonuses and supernumerary paychecks despite looming bankruptcy. They may not have a clear agenda of specific demands, but there is no mistaking the message: ENOUGH! Leave some for the rest. As Mohandas Gandhi observed, “There is enough for man’s needs, but not for man’s greed.” So the blistering question is “How much is enough?”

Pico Iyer wrote about the Marcoses as reported by Edwin Reingold and Nelly Sindayen in Time Magazine. Excerpts from “Behind the Scene” illustrate insatiability in vivid detail.

“Inside Imelda’s boudoir were two queen-size beds on an elevated platform, and a grand piano. The former First Lady’s washbasin was made of gold. Downstairs, in a not-so-bargain basement, the woman who used to refer to “my fellow poor” had left behind some 2,700 pairs of size eight shoes, five shelves of Gucci handbags and 38 of her 105 clothes racks, designed to carry 80 outfits each... Elsewhere, the legends on their bedroom intercoms read simply “King’s Room” and “Queen’s Room”.

Even more graphic evidence of decadent splendor, was afforded by a private collection of more than 500 videotapes unearthed in Manila and New York. In one of the tapes, Imelda cavorts with bejeweled guests in a private Malacañang disco, complete with DJ’s booth and man-made waterfall. Another video chronicles a bacchanal aboard the presidential yacht, celebrating the birthday of the youngest, Irene Araneta. A man in a baby bonnet bursts out of a cake. The First Lady jives under flashing strobe lights with an American consular official dressed in Bermuda shorts... Bong-bong steps up to a mike, sporting makeup and a flashing electronic bow tie, and joins in on a raucous rendition of We Are the World, the song recorded to raise money for the starving in Ethiopia...

Among the first of history’s judges were the Filipinos who filed through the palace, many of whom earn less in a year than Imelda spent on a single pair of shoes. “I am appalled by the greed,” said one nun. Even visitors accustomed to more affluent surroundings were stunned. “Next to Imelda,” said Democratic Congressman Stephen Solarz of New York after visiting Malacañang, “Marie Antoinette was a bag lady.”

Rapacity to the Marcosian degree is extreme. But in oligarchic economies, greed is a natural by-product of success. When 90+ percent of the country’s wealth is owned by less than one percent of the total population, even a patina of social equality is highly improbable. Unlike “Occupy” that targeted USA Inc., local demonstrators usually rally against the exorbitant costs of commodities: fuel, water and power that snowballs on the prices of consumer goods and services. It’s a fact that the Philippines has the highest cost of electricity in Asia, higher than Japan, Singapore and Malaysia. So protest actions are aimed mostly at the utilities sector and the government. Corruption is after all, the other face of avarice that is seen in both private and public sectors.

There is a formula for a “triple bottom-line” that enlightened and visionary companies follow. It redefines profit from being just a number — a percentage or increment bigger than last year’s that translates into hefty bonuses, dividends and salaries for management and stockholders — to a new perspective that includes the well-being of their employees and the community where their business operates.

Their measure for excellent performance embraces a better quality of life for their employees and gives back to community through real CSR programs that go beyond press releases and photo ops. The triple bottom-line purposively distributes profit-after-tax three ways: Reward yourself, reward your employees and reward your community. It does not demand that earnings be divided equally, only that fractions trickle downwards and outwards to more people. The ripple effect is a good antidote for greed and might render interventions like “Occupy” unnecessary.

Is success best appraised by material wealth? How many mansions should one own? How many luxury vehicles must be parked in the garage? How many yachts, planes, jet skis and tech-toys to play with; caviar and champagne to consume; signature bags, shoes and outfits to wear? How many mistresses and boy-toys to indulge? How much is enough? The hunger to acquire is never content. As Erich Fromm illuminated, “Greed is a bottomless pit which exhausts the person in an endless effort to satisfy need without ever reaching satisfaction”.

The death of Gadhafi proves once again that you can’t take it with you. In the movie “Boiler Room,” the character of Ben Affleck goaded, “Money can’t buy happiness, but you can park your Ferrari next to it.” But maybe it’s wiser to go for the “decent profit”. Pay your employees not just what is legal, but what is right. Pay forward to communities and societies to help improve their lot. Listen to your conscience. “Occupy” your heart and soul.

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