Shinzo Abe The Asahi Shimbun/Getty Images


东京—二十世纪初,从意大利移民北美的查尔斯·庞齐(Charles Ponzi)想出了一个看似绝妙的赚钱主意。他为毫无价值的投资提供巨大回报,从而说服越来越多的人把钱给他,这些钱被用作利润支付给先前的投资者。这个以庞齐的姓氏命名的骗局在本质上是一种让企业永久积累债务的方法。但是,当然,它终究只是个骗局——而事实上,庞齐也因此入狱。


当然,其中有一些关键区别。传统私人庞氏骗局尽管能支付短期回报,但永远会因为 一个简单的原因而败露:潜在投资者数量是有限的。但在政府庞氏骗局中投资者是纳税人。而一个稳定的政府,能够根据自己的意愿实施强制措施,想必可以一直征税,将税收收入用于偿还早前的债务,这一过程可以维持多代人。

To continue reading, please log in or enter your email address.

To read this article from our archive, please log in or register now. After entering your email, you'll have access to two free articles from our archive every month. For unlimited access to Project Syndicate, subscribe now.


By proceeding, you agree to our Terms of Service and Privacy Policy, which describes the personal data we collect and how we use it.

Log in;

Cookies and Privacy

We use cookies to improve your experience on our website. To find out more, read our updated cookie policy and privacy policy.