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Quite Likely's avatar

I mean I'm not a scam artist and economics are complicated, so I'm not exactly sure how to answer that question. Why is any particular business model, whether it has social value or not, more successful than any other? Apparently in our current economic system, money management can produce a lot of profits by putting a lot of effort into convincing people that you can help them invest their money. So a lot of people get into that industry and get rich. There's no particular deeper explanation, that's just how it worked out.

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Stephen Diamond's avatar

The problem is to explain why they're profitable. There are innumerable scams one could imagine: why is this particular one successful.

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