When morphine was invented in the late 19th century, there seemed to be no limit to how much human suffering this new substance could alleviate, without incurring any downsides. Morphine simply seemed too good to be true. And it was. It was soon discovered that morphine’s addictiveness made it unsuitable to use for more than only the most severe cases of illness.
When markets were invented, they too seemed too good to be true. They seemed to be able to unlock massive efficiencies and growth without any downsides. Then came Black Friday, the great depression and we found out that markets, too, have its downsides.
By now, we know that both morphine and markets are fantastic tools, but that we need to use them with care. Yet, again and again, we end up overdosing on these tools. We forget that they both come with safety instructions.
This is the story I tell in this video.
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In this video:
0:00 Morphine is invented
01:34 The market is invented
04:42 We start overdosing
06:30 Taking stock
08:36 3 suggestions
10:32 Thank you and shout-outs
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Who am I?
I’m Andres Acevedo, a lawyer who make short documentaries about law, economics and fairness for my own channel, The Market Exit. You can help me make videos for The Market Exit by becoming a Patreon. Or, if you live in Sweden, you can Swish me a donation on 123-333 34 65.
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#toogoodtobetrue #markets #money
Thanks for watching the video: Too Good to be True: The Story of MORPHINE and MARKETS
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