| It's not just Greed. Sure there are mindless greedy parasites in any environment that extract more than they input into the system, but you can easily find a whole bunch of execs in American corporate wonderland who are not greedy. And there are a whole lot of well known mechanism to handle parasites. Yet these outcomes are very common. Main reason being economic and business theories that have been taught and followed for decades are hitting their limitations. Especially around fictionalization. You don't need an Einstein to work out how to profit taking advantage of cross border differences in labor costs, interest rates, tax rates, govt subsidies, forex, real estate costs etc. Because you don't have to be Einstein, everyone blindly follows what they have been taught. All these are financial engineering methods of showing a profit happen without actually depending on what you produce, its quality, or demand/supply in the market. If Everyone plays financial engineering games, cause its become easy, doesn't require much imagination or creativity (only access to capital or credit) then what happens? Without new theories about making this system sustainable, its like watching European theories of colonization and empire that once everyone believed in running their course. |