The Danger of Greed and Dragon-sickness
The HobbitThe corrupting influence of treasure, especially dragon-guarded gold, is a central theme illustrated by Thorin's fall and the Master's greed.
increasing
Bearing strength in each event
decreasing
The Dragon's Hoard

The Treasure's Allure
The Description
The treasure is vast and beautiful, but it is also cursed. Smaug's long possession has imbued it with a kind of evil.
The Effect on the Dwarves
When the dwarves see the treasure, they are immediately affected. They become possessive and forget their other goals.
Bilbo's Immunity
Bilbo is less affected. He takes only what he needs and is more concerned with escape and peace. The ring may protect him, or his hobbit sense.
Thorin's Fall

The Corruption
Thorin's Change
Thorin becomes obsessed with the Arkenstone. He is willing to fight his allies to keep the treasure. His greed overrides his reason.
The Mistake
Thorin's refusal to share leads to the siege and nearly to war. He is consumed by the dragon-sickness.
The Redemption
Thorin breaks free from the greed in his final battle, sacrificing himself for his people. He dies a hero, but the lesson is clear.
The Master's Fate

The Secondary Example
The Master's Greed
The Master of Lake-town takes the gold given to him and flees, but he dies in the wild, abandoned. His greed leads to his downfall.
The Contrast
Bard, who is not greedy, becomes a respected leader. The Master's fate underscores the theme.
The Message
Greed brings ruin. Generosity and wisdom bring prosperity. The treasure is a test of character.
Inside the Mountain, at the lair
During the siege
After the battle, in Lake-town