Great article on fraud and informational asymmetry. My favorite example of this is the Gold Rush. There were literally gold nuggets lying on the ground in California. The local Indians put no value in them. When the Europeans showed up and lusted after the gold. The Indians figured out gold's true value in America soon enough.
Is it fraud to take Manhattan for some beads? Both parties seemed happy enough at the time.
since there is no such thing as a market failure, info assymmetry can't be one of them
location, location, location, are the three principles of real estate
The Federal Reserve System has been the largest fraud on the market in history.
Great article on fraud and informational asymmetry. My favorite example of this is the Gold Rush. There were literally gold nuggets lying on the ground in California. The local Indians put no value in them. When the Europeans showed up and lusted after the gold. The Indians figured out gold's true value in America soon enough.
Is it fraud to take Manhattan for some beads? Both parties seemed happy enough at the time.
Are casinos a fraud?
I do believe government is a fraud.
Thanks for the article.
Tim
There's a reason why Manhattan was built on a landfill.
Vonu, SeaTac Airport is built on a landfill. Why is Manhattan?
Because they didn't remove it before beginning New Amsterdam.
Vonu, So what? The land's location is what makes it worthwhile. That's the first rule of real estate.
When facts become irrelevant, laws follow.
Vonu, Are you reading fortune cookies?