In a fit of madness or just plain desperation, you’ve enrolled in a get-rich-quick scheme. All you have to do is sell some products, sign up some friends, make some phone calls. Follow that simple formula and you’ll soon be pulling in tens of thousands of dollars a month — or so you’ve been promised anyway. And if you sell enough products, you’ll be invited into the Golden Circle, which offers yet more perks like free concert tickets and trips to Las Vegas.
Still, I’m sure you won’t be surprised to learn that there’s a catch. If you don’t sell a pile of products or sign up a ton of friends to do the same, the odds are that you’ll end up losing money, no matter how hard you work, especially if you take out loans to build your “business.”
The founders of multi-level marketing schemes always make a lot of money. Some of their friends become wealthy, too. But 99% of those who sell the products, whether cosmetics or dietary supplements, lose money. That’s worse than a conventional pyramid scam, which fleeces only nine out of every 10 people involved.
Now, imagine that you’re a poor country. The international financial institutions (IFIs) promise that, if you follow a simple formula, you, too, will become a wealthy
— source tomdispatch.com | John Feffer | Sep 19, 2023