And then we have the Wall Street scams. Corzine didn't go to jail and neither has anyone else. Nor are the hospital administrators who billed out those charges for services never performed, or any of the other corporate interests that are always looking for a way not to make an honest profit but rather to rip you off wholesale. These aren't little rip-offs either; those plague every society and it never ends, because there are dishonest people in the world everywhere. No, these are big robberies that ought to be felonies everywhere and always, yet today they never are. Go ahead, try to start a business or get ahead, but the dice roll on one or more of these *******s getting their claws into you and destroying everything you built, and your inability to obtain justice if they do, makes the deal rather less attractive than it used to be.There's an old game: The Two Things. You have to boil down everything about a particular thing into two characteristics. It is a nice focusing exercise. The Two Things about economics are:
- Incentives count.
- There's no such thing as a free lunch.