There is so much to digest in Robert Fitzpatrick's "Ponzinomics," but I'll start with the basics: people who get caught up in Ponzi schemes don't actually market whatever their products are to people like you and me. Instead, they direct all their efforts at getting friends, family members and their neighbors to sign up and sell the very same items to their friends, family members and neighbors. No one in these MLM frauds actually sell to the general public.
As long as you keep this reality in mind, Ponzinomics will make all kinds of sense as Fitzpatrick -- based upon years of research and investigation -- lays out in rich detail just how fraudulent and corrupt MLM firms really are,
One can't help but recall P.T. Barnum's observation that "there's a sucker born every minute," because these marketing firms that create these pyramid schemes rely upon widespread gullibility, often born out of financial desperation, but gullibility nonetheless. Fitzpatrick demonstrated how millions have lost their shirts in these schemes and, perhaps worse, soured family relationships, enraged friends and created open hostility with their neighbors for roping them in and causing financial losses.
Where Ponzinomics really stands out is how Fitzpatrick demonstrates that Congress is a willing partner in these schemes by lightly regulating MLM players, if at all. From his documentation, it's painfully clear that MLM outfits have extraordinary protection from criminal liability for fraud, due largely (you guessed it) from large-scale campaign contributions. The situation is truly appalling.
Fitzpatrick is a modern-day Sinclair Lewis, revealing and documenting a facet of the American scene badly in need of reform and a wholesale cleanup. That his efforts, and those of others, have dented but not yet brought down these legally sanctioned corruption schemes is frustrating, but not surprising, in a nation in which get rich quick quick schemes have been a part of the American narrative since its founding.
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Top reviews from other countries
Customer
Brilliant and full of details! His remarks hit the bull's eye of those blood sucking 'business'.
Reviewed in the United Kingdom on February 28, 2023Ricardo Casanova
A true deconstruction of the MLM world
Reviewed in Spain on August 21, 2022
olivia ancell
an extremely important book
Reviewed in the United Kingdom on December 12, 2021
