Ponzi unmasked

posted by
September 5, 2011
Foundation for Economic Education
by Sheldon Richman  
Posted in Commentary

"Social Security therefore meets one requirement of a Ponzi scheme. But there are two requirements. The second is deception. That should have already been clear. You couldn’t run a Ponzi scheme if you told your contributors the truth: 'Give me $1,000 today, and I will double your money -- as soon as I find two more people willing to give me $1,000 on the same condition.' That wouldn’t get very far." (09/02/11)


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