CAPITALISM cannot but encourage greed in the individual, because it is the core ingredient of this economic system’s dynamics. Surely, most are privy to the sarcasm about expecting individual greed, the system’s mainstay, to deliver the common good. That it is an obvious oxymoron escapes the average person and the system marches on to valiantly enrich the few, the rentenier, who earn without any productivity except their claim to entrepreneurial prowess. Many average Joes, seduced by riches, are bent on emulating these people of independent means because they are held up as the example. Unfortunately, some of the emulators are in a hurry to number among the rich, and will stupidly fall victims to get-rich-quick schemes. According to the police, as much as RM116 million has been lost to swindlers in the first half of this year alone.
Shortcuts to fortune scams have always existed in human societies. Shape them how you like, they are all actually different forms of gambling. Small fortunes are risked only to disappear into the bank accounts of conmen. Get-rich-quick rackets are swindles run by confidence tricksters, who sweet talk people into parting with their money on promises that it will be invested to produce many multiples of the initial investment within a short time. The operative phrase here is “within a short time”. Hope and greed combine in the gullible to turn dreams into nightmares. Once the realisation of being had hit home, police reports begin pouring in. For the first six months of this year, involving the sum mentioned earlier, there have been 485 police reports made. And, the police expect there are more and are encouraging them to come forward to assist with enquiries. Indeed, if we look at the very rich, money does make money in seconds, but these are people well ahead of the pack. Their initial investment may have been the grandfather’s little corner store, which grew into a hypermarket chain over a generation and is rolling in profit. While they may no longer need to hunker down and work for their money, this privilege is only that of the few. Getting rich quick is impossible unless there is corruption involved or winning the lotteries, which is gambling.
For the average person, therefore, there is no honest way of getting rich quick. No matter how persuasive the predator, the prey must always be sensible and wary of anything that defies natural law. Wealth accumulation must take time if one is starting from a very small base, either through savings or kosher investments, like a little business. It takes hard work and dedication. Finally, when the profits come in, diversify. The tale about growing one’s fortune is very true, and immense sacrifice is needed. In fact, even when pursuing a career, hard graft and sacrifices are what pays off. Laws are in place to prosecute the fraudster, but in the end, it is the individual who must weigh every option offered. The rule of thumb is straightforward: never entertain the overnight millionaire promises.