2 ms·
Investment fraud is not a new paradigm. Selling bags of nothing is not a new paradigm. Goes all the way back to the South Sea Company in 1711 [1]. I recommend
by arcticbull 4y ago
Investment fraud is not a new paradigm. Selling bags of nothing is not a new paradigm. Goes all the way back to the South Sea Company in 1711 [1].
I recommend reading Extraordinary Popular Delusions and the Madness of Crowds published originally in 1841 [2].
[1] https://en.wikipedia.org/wiki/South_Sea_Company https://en.wikipedia.org/wiki/South_Sea_Company
[2] https://www.amazon.com/Extraordinary-Popular-Delusions-Madness-Crowds/dp/051788433X https://www.amazon.com/Extraordinary-Popular-Delusions-Madne...
- mumblemumble 4y agoExtraordinary Popular Conclusions is also available for free from Gutenberg: https://www.gutenberg.org/ebooks/24518 https://www.gutenberg.org/ebooks/24518
- vba616 4y agoI don't see it usually mentioned when people cite the South Sea Company, but their principal actual business was the slave trade. There is something about a useless or immoral business that often excites greed beyond what anything beneficial to society can.