9/4/11

Ponzi economy? Anyone recognize themselves in this picture?

The Ponzi Economy - TIME : "Real estate is the only major consumer market in which how much you'll pay someone depends on your belief about how much someone else will pay you. In this market, prices go up when people believe they will continue to go up. To restore confidence would mean restoring belief in the greater fool. That shouldn't be hard. It's built into human nature. This is why another term for a Ponzi or pyramid scheme is a confidence trick."

If this is true it extends to the market as well. And to business too. Everyone is hoping to make more than they put in. So let's apply radical egalitarianism to the whole shooting match and get rid of the hypocrisy. We earned it means we won in the game. No one deserves anything at the expense of another. Instead of trading for individual gain we should think about common effort using the talents of all. Instead, we do our best to humiliate and marginalize the very people who could be the most help in a common effort.   
Post a Comment

Live Where You Work

The Slow as Molasses Press