Quote: (10-07-2015 11:30 AM)Phoenix Wrote:
Quote: (10-07-2015 10:27 AM)Quintus Curtius Wrote:
To me this type of situation raises the age-old debate about ethics: at what point does normal self-interest become exploitation?
There's never been any difference. Business is always a competition. The smart men profit more from deals than the stupid men. Not just in loans, but everything. The more savvy the businessman, the more he can move contracts closer to his advantage. It's like chess - if the other guy doesn't spot what you have in mind, you'll win, and vice versa.
This is why education is so important. It's easy to view this story merely in its narrow context, tailored by the author to fit the tone he wants it to have, but the question is "why did the counter-parties accept?". Why did they chose that option instead of just closing shop? Had they done so, they would've kept the remaining money that the loan sharkers received instead. Why weren't they taught in school about basic business practices, instead of worthless crap they'll never use?
Education is the ultimate defence against the sharks. For so long as your contracts with them are voluntary, it's ultimately your choice if you get eaten.
I still think that there are some things that are just immoral. Good businessmen--and good men in general--know the difference between scamming and fraud, and honorable practices.
This is not the type of behavior that a good man should engage in. It's trafficking in debt slavery.
I don't subscribe to the idea that it's OK to exploit someone just because they are desperate, stupid, or uneducated.
What these two guys were doing is immoral and unethical, in my opinion. There are inherent principles of justice, fairness, and decency that every man in society is bound by. These guys violated those principles.
There's nothing wrong with healthy competition. There is nothing wrong with normal business "puffery" up to a point. But at some point, lines can get crossed.
Where that line is drawn, is the the provenance of ethical debate.
What these guys don't yet know is that there will be a heavy price to be paid for all this. And the wages are extracted from one's soul.