You remind me of defiant Greenspan who still clings to "rational players acting in self interest" delusions.

Why is this not happening? Human nature. Without guillotine or the red menace keeping elite honest you have existing white collar loot and pillage process.

The same idea behind religion. Why do all existing civilizations developed religion? Why all of them have some concept of "fear of god or divine retribution"? Because all other societies failed due to insufficient level of cooperation. Humans just don't tend to cooperate at sufficient level without outside threat, even if it is imaginary.

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