4 ms·
> In a ponzi scheme, money is deliberately directed to early entrants to cover the conscious absence of any mechanism to produce actual value. I don’t think th
by klodolph 3y ago
> In a ponzi scheme, money is deliberately directed to early entrants to cover the conscious absence of any mechanism to produce actual value.
I don’t think the “deliberate” part is particularly important. It sounds like you disagree. There’s a whole discussion to be had here about mens rea, and that discussion is important in the context of criminal justice, but I think it’s less important when discussing systemic problems because you need a different toolset (besides intent) to discuss problems with economic systems.
- JumpCrisscross 3y ago> it’s less important when discussing systemic problems It’s unimportant whether commercial property owners are fraudulently or not inflating their property values? That seems incredibly important to what kind of solution is appropriate.
- GauntletWizard 3y agoEverything is worth what the market will bear. If you can achieve a price, it's a fair price - some relator, probably.
- epgui 3y agoIt’s just not true that every market price is fair. There are all sorts of sources of market inefficiencies, and this is one of the reasons why governments spontaneously arise or form.
- dragonwriter 3y agoIts...not. Though it is one of the retroactive justifications for government from non-minarchist market ideologues.