Archives for posts with tag: Bernard Madoff

One way to interpret Maslow’s pyramid of needs is to consider that an individual might become a full fledged human only after having climbed to the ‘fifth floor’.

The key word here being “might”!

Because nothing mandates that all those who have overcome the material constraints of this world and have successfully integrated themselves in the social milieu will ever become a ‘better version of themselves’.

Need examples? Have you ever heard about people like Bernie Madoff, Martin Shkreli or Myron Scholes?

‘But the last guy, Myron Scholes, was recognized by the Nobel committee as a world class economist!’
Exactly! What more could a person want? Money, fame, worldwide recognition… he was on the fast track to becoming whoever he wanted…
Yet he had chosen to associate himself with one of the deepest financial black-hole ever… Knowingly, unknowingly… doesn’t matter!

‘But what does it mean to become a full fledged human?’

To be free. To consider them-self a free person and to be recognized as such by their peers.

‘Scholes wasn’t a free person?!? Shkreli?!? Madoff?!?’

Nope. Neither was free from greed!
Greed for money, power, public recognition… or any combination thereof.

‘But “greed is good”!!! Isn’t this the current mantra? Aren’t we all driven by this sentiment?!?’

First of all, greed is not good. Read Adam Smith’s Theory of Moral Sentiment.
But yes, we are bombarded from all sides with this notion. That ‘greed is good. That greed is the engine of capitalism, which capitalism has brought us here. Where it is good.’

Yes, here it is indeed good. Only for fewer and fewer of us. It used to be better but since ‘greed has become good’ every ‘bump’ we encounter along the ‘free market’ road has proven to be quite a challenge. An insurmountable challenge for more and more of us.
An unsustainable arrangement. For us, as a community.
And yes, capitalism is the best economic paradigm to date. Only, as all paradigms, it has to be put in practice. By us, the people. In the right way. In the free market way.
Only we are no longer free! Those who cannot escape their sentiment may not consider themselves free. And too many of us have been enslaved by their greed!

‘But greed is written in our DNA!’

Indeed! So is the urge to have sex!
Only we’ve managed to teach ourselves, community wise, that while sex is good, rape is bad!
Not so long ago, rape was more or less condoned. ‘She must have enticed him’. ‘What was she doing there at that hour?’ And so on…
Nowadays, rape is shunned. By most of us.

Only we still live surrounded by rape culture. Seeped in greed.

Will we ever learn?
Will we, as a community, ‘actualize’ ourselves?

Ayn Rand utopia

“A community made up of American ex-pats deep in the South American hills of Chile – far away from America’s annoying taxes, healthcare mandate, and legal abortions — was supposed to be a libertarian paradise of rugged individualism. Instead it cost many of the people who bought into it almost everything, and now is buried under lawsuits — a reminder that everything that glitters is not inflation-proof, Ron Paul-backed gold.

It seems pretty obvious that basing one’s society on a single work of (poorly written) fiction is folly, but for many adherents of Ayn Rand and her seminal book of Objectivist allegorical grandstanding, Atlas Shrugged isn’t just any book. It’s about as close to the Bible that many libertarians have — apart from the Bible, of course.”

 

To me this looks more like an Umberto Eco novel than anything else… layers upon layers of information connected solely by what human individuals living in one of them think about what is going on in the next one…
– Ayn Rand grew up in Russia and wrote in and about the US… OK, she might have had some interesting ideas but so did a lot of other controversial thinkers. Karl Marx and Nietzsche, among others. Would any of you become a dedicated follower of any of these two? I had to live in a Marxist society for the first 30 years of my life and I wouldn’t recommend it…
– The guys that came up with this… scheme… have as much in common with libertarianism as Bernard Madoff has with bona fide capitalism…
– Investing, money or time, into something without due diligence is not a very libertarian thing to do either…
– Etc., etc….

After all an utopia, even one supposedly based upon Ayn Rand’s ideas, is nothing more than another … man made dystopia.

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