I think what he is describing is actually a pyramid scheme (at 34:44) which is slightly different to a Ponzi scheme. The investors in a Ponzi scheme all believe that they are making returns on the money that they have invested. However, scheme does not generate any profit and their dividends can only be paid for using incoming funds from new investors. If the flow of new investors is too slow or too many people ask for their principal to be returned, the scheme will collapse.
In a pyramid scheme each new investor knows that they are paying a slice of their returns to earlier investors and they have an incentive to recruit new investors below them.
correct me if i'm wrong but if this is a ponzischeme then every corporation is a ponzischeme
The word "rhetoric" has a bit of a negative connotation. This lecture series seems to support that. As if Sadler is saying, "Here are all the ways rhetorical devices can be used to manipulate your belief system." Is this a fair representation of what rhetoric is, or am I misinterpreting. I've always thought that "rhetoric" in an academic sense was more about strategies in verbally expressing clearly, not muddling, information.
Professor Sadler, is it possible to upload the videos on this channel to your personal channel or are these videos considered property of of the school?
1) Show me evidence that this is true and that is has been more or less enduring since the program's initiation.
2) I was about the ask the same of you. Dr Sadler explains the structure of both systems more than adequately in the video. Where do you see similarities in their structures?
3) It isn't a hasty generalization. I was following your logic, nearly word for word, and showing that you could insert any government program in there and come to the conclusion that it's some sort of scam.
(1) If I'm understanding you correctly, you are saying that the government only pays out 33% of what it collects and that this extra money leaves the SS program. Is this a correct assumption? If it is, then please provide evidence. Otherwise, please clarify.
(2) My posts didn't mention anything about saving. Read them again.
(3) If all young people stopped paying into the public school system, it would collapse. Ergo, the public school system is a scam. Do you see where this logic gets you?
Think of it this way, if I told you to give me $100 today to give to your grandmother and promised to give you $100 (assuming zero inflation) in 50 years which I would obtain from your grandson, then I only need you to have a grandson for the system to work. Now, of course, not everyone is going to have a grandson and not everyone is going to be able to give away $100 in the present, so we spread the expenses across the population and ask the more affluent to contribute more.
Second, the reason ponzi schemes collapse because each new set of investors must be larger than the previous set of new investors to maintain the system (which is a mathematical impossibility). With SS, you mere need a consistent ratio of people working to people receiving money from the system.
Social Security isn't a ponzi scheme anymore than car insurance is a ponzi scheme. First of all, your argument rests on the assumption that social security will someday get to the point of having no new "investors", which (short of a population crisis) won't happen…
Same message applied here… I had this crazy idea that I'm currently almost done building… it's a basis of Global Socialism… do you think it could work?
Somehow I would feel…
First they ignore you, then they laugh at you, then they fight you, then you win (perhaps)… will commence if it was ever in public view.
i will be spending the next few days in work listening to these lectures ,you have a nice way about you , that i appreciate ,logic and rhetoric should never have been removed from the curriculum ,as all things considered ,these are the wind that carry all other fields of study ,as a Christian I find ,even in skewed Christianity ,that all other philosophies viewed through these two lenses are exposed for what they are ,as such the devil always trips over his own tail
You're welcome — glad you find them useful
I Live In England and your modules are very fascinating and very well informed and no there not a single use of hyperbole in my comment.
Thank you for all your hard work
I very enjoyed the video in it you refer to a book a few times and I was wondering which book that was. So could you tell me the book title?
I have enjoyed your class,thank you.
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