There are three types of economic termites. Today, we recognise that markets are ecosystems and economic termites are part of the economic system, just as real termites form part of the biodiversity of nature. Thus, can economic termites be totally eradicated, or do we just need to make sure that they do not eat up the whole system? Many politicians and civil servants think that social problems can be solved by passing more laws and regulations. I do not personally believe that there is a conspiracy of global Illuminati (secret elite), but these economic termites control the system without necessarily acting together.

Source: The Edge Markets July 20, 2021 03:33 UTC