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I mean, the historical solution to this type of stuff is just hardline regulation right? There isn't a general solution against bad decision making. Your toddle
by yifanl 4y ago
I mean, the historical solution to this type of stuff is just hardline regulation right? There isn't a general solution against bad decision making. Your toddler will drink that liquid under the sink -> you put that liquid in a really high place and now everybody will complain and have to find that stepladder every time they want to clean the drains.
The best non-regulatory fix I can think of would be socially enforcing that people stop profitting from convincing others into doing bad decision making.
It's not very easy though, since fraudsters only need to convince people once to make off with their profits, unlike a tradesman or manufacturer who needs to stay in business long-term.
- klibertp 4y agoWell, the "get rich fast" things should be regulated as you say. The problem begins when such schemes become "get rich at all", with nothing in terms of viable alternative. The best way to deal with it is not to make people that desperate in the first place...
- yifanl 4y agoCertainly, if we lived in a world with a very robust financial safety net, then people would be less inclined to make risky financial decisions. The main question is how do we get there? It's not obvious to me that the currently popular web3/crypto approach of widely promoting these risky gambles gets us there.