Re:Legal expert says Tether and Binance Coin are likely pick...
by Animats on Wednesday June 16, 2021 @02:14PM
(#27531664)
"Extraordinary Popular Delusions and the Madness of Crowds" (1841) is still worth reading. You get to see the first versions of the classic large-scale scams. John Law's bank, the South Sea bubble, tulipomania. Scams go much further back, but mass-market scams had to wait for mass communications. Newspapers powered the first round of large-scale scams.
Most scams today are very similar to some classic scam mentioned in that book. There's not that much innovation.
Kids should be taught the classics in school - the short con, the long con, the big store, the pigeon drop, the badger game, the protection racket, the bait and switch, the Ponzi scheme... The list is not that long.
Re:Legal expert says Tether and Binance Coin are likely pick...
by duskwuff on Wednesday June 16, 2021 @02:23PM
(#27531774)
Personal finance should be a subject in schools, and scam awareness should be one of the topics covered. The long-term economic benefits would be huge.
Most scams today are very similar to some classic scam mentioned in that book. There's not that much innovation.
Kids should be taught the classics in school - the short con, the long con, the big store, the pigeon drop, the badger game, the protection racket, the bait and switch, the Ponzi scheme... The list is not that long.