Thursday, December 18, 2008

A Fair Question

TJIC quotes and then wonders:…

CATHERINE RAMPELL asks a very good question—how does the architect of a Ponzi scheme plan to bring said Ponzi scheme to a satisfactory end? Given the finite number of suckers on the planet (though admittedly, the illusion of limitlessness is often convincing), any Ponzi scheme, once begun, must end (generally in tears). So what’s the exit strategy? Ms Rampell notes that in small-time scams, the perpetrator can just hope to flee the scene once the jig has run its course. Or, he can try and turn the business legit before the sucker supply runs thin. Or he can live it up, recognising that death or jail looms.

My question:

Which of these options do the architects of social security and the modern welfare state plan on using?


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