Capitalist system nothing more than nefarious pyramid scheme

In the last 30 years many countries have tried to fight the growth of pyramid schemes in which people are asked to join a group with the promise of very high benefits in short periods of time. Yet once that time has elapsed, they find themselves without the promised income and out of funds.

Most developed countries have banned these practices but have not yet managed to eradicate them or even reduce their numbers.

Nonetheless, pyramid schemes have always been at the core of our capitalistic society without us realising.

Consider this: Capitalism functions on the basis of enlarging markets and ‘making others join the scheme’. Big companies will help governments start in this new system after which they will have to repay the big investments. This money will come from the smaller units that join the system. Once countries join the system, there is a huge social cost with increased social injustice and mafias trying to control the market.

All the big players claim not just that “this is legal”, but also protest at the claim that Capitalism is a pyramid scheme. Indeed, they counter-claim that Capitalism is the best economic system.

Yet a system that leaves behind more than 50 per cent of the population of the planet cannot, in any way, be a good thing.

Is it not time to ban all pyramidal schemes?

 

Jordi Guri

Paphos

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.