Modern Capitalism
Introduction Recently, during a dinner conversation, my father mentioned receiving numerous phone calls from banks inviting him to invest. Without hesitation, I replied that if the world offered free money without work and risk, it was likely a scam disguised as an investment opportunity, designed to benefit the salesperson. Historically, banks were trusted institutions where people saved money and earned interest. However, in recent years, banks have increasingly adopted aggressive marketing tactics. For example, after making significant credit card purchases, I frequently receive offers for high-interest loans to repay the debt over several months (e.g. 7.99% interest rate per annum). Banks seem to have adopted a predatory lending approach, reminiscent of loan sharks, preying on the financial struggles of consumers. This practice is especially concerning given the rising cost of living and the increasing number of people who rely on credit to make ends meet (rather than traditional p