Interesting talk about extraction of value from real people and real companies producing goods and services, to rather holdings, financial corporations creating myths around products. Companies which don’t make anything but rather become names on debt.
Douglas Rushkoff raises interesting question about our current economy. As money were created to hold value in the age of scarcity, they don’t work well in present age based on abundance. It is free to distribute stuff across the Internet. That’s why scarcity based lending banking model doesn’t work.
“They were so stupid, they bought shares of their own ponzi schemes”. Douglas Rushkoff talking about banks. If you have so much money created where are you going to put them?
If you like this talk, you will also enjoy Hacking the Economy article.
