HN user
I wonder if the ease of movement both physically and financially is going to make it permanently non-viable for countries to keep control over their citizens' assets as was done in the 20th Century.
In my limited experience, any kind of negotiation where the parties have a weak or a bit of an adversarial relationship, will probably degenerate into this kind of shin-kicking and posturing about walking away on both sides.
As an extreme example, before starting Tesla, Eberhard took an existing electric car [A], which was itself built on an existing kit car [B], and had a different battery technology installed [C]. And then used it as a proof of concept to start Tesla.
[A] https://en.wikipedia.org/wiki/AC_Propulsion_tzero
[B] http://www.funcar.com/sportech/
[C] https://en.wikipedia.org/wiki/AC_Propulsion_tzero#Lithium-io...
A few thoughts:
1. Even if it were illegal, many people would still play the lotteries: https://en.wikipedia.org/wiki/Numbers_game , only the profit would go to criminals.
2. The "Sin Tax" ( https://en.wikipedia.org/wiki/Sin_tax ) on lotteries, like all sin taxes (i.e. cigarettes, alcohol), is highly regressive and hostile to the poor.
The list (and book) was written by a guy who suffered from his financial dealings with Standard Oil and he is essentially explaining how they were able to get him over the barrel. It is a very cynical list.
From Frenzied Finance (1905):
First, there is a fundamental law, from which no one—neither the great nor the small—is exempt. In substance it is: "Every 'Standard Oil' man must wear the 'Standard Oil' collar."
This collar is riveted on to each one as he is taken into "the band," and can only be removed with the head of the wearer.
Here is the code. The penalty for infringing the following rules is instant "removal."
1. Keep your mouth closed, as silence is gold, and gold is what we exist for.
2. Collect our debts to-day. Pay the other fellow's debts to-morrow. To-day is always here, to-morrow may never come.
3. Conduct all our business so that the buyer and the seller must come to us. Keep the seller waiting; the longer he waits the less he'll take. Hurry the buyer, as his money brings us interest.
4. Make all profitable bargains in the name of "Standard Oil," chancy ones in the names of dummies. "Standard Oil" never goes back on a bargain.[9]
5. Never put "Standard Oil" trades in writing, as your memory and the other fellow's forgetfulness will always be re-enforced with our organization. Never forget our Legal Department is paid by the year, and our land is full of courts and judges.
6. As competition is the life of trade—our trade, and monopoly the death of trade—our competitor's trade, employ both judiciously.
7. Never enter into a "butting" contest with the Government. Our Government is by the people and for the people, and we are the people, and those people who are not us can be hired by us.
8. Always do "right." Right makes might, might makes dollars, dollars make right, and we have the dollars.