One interesting thing about greed is that although the underlying motive is to seek satisfaction, the irony is that even after obtaining the object of your desire you are still not satisfied. The true antidote of greed is contentment.
Material objects give rise to physical happiness, while spiritual development gives rise to mental happiness. Since we experience both physical and mental happiness, we need both material and spiritual development. This is why, for our own good and that of society we need to balance material progress with inner development.