Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
and economics shouldn't resemble gambling so much, that makes it a game to the players, while to trusting, naive people downline of the purposely arcane lipsticked pigfarm-in-a-trillion-little-pokes, it's anything but.

compound interest has a relentless quality to it over time, making it a potent force. what we see now is what happens when that force is misused by shallow, greedy individuals.

obviously the temptation to break trust while in such a tempting situation is not for those too weak to resist it.

there should be an algorithm that governs compound interest so it's not such a juggernaut, thus removing, or at least tempering such a lottery-winner mentality that has developed around the financial (self)-service industry.

as there is no moral litmus test which will let us know whom to trust to watch our goodies while we sleep, there seems like there are two ways to go, one make it a capital crime to betray the public trust, with the show trials and even death penalty, or exile to the equivalent of siberia.

second, rotate the responsibility, so no-one gets too fond of the power for too long.

the first would have to be real, it would have to have as terrifyingly deterrent an effect, as has the glittering fantasy of hyper-acquisition to make some people succumb, human nature being what it is, there will always be people who will try and game it, just to see if they can.

transparency, transparency, transparency, keep the sun on it.

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Tue Sep 23rd, 2008 at 08:57:01 PM EST
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