Ponzinomics: The Untold Story of Multi-Level Marketing
About this book
Ponzinomics by Robert L. FitzPatrick, author of False Profits, is the first comprehensive account of how "multi-level marketing" was created in America, escaped criminal and civil prosecution and spread all over the world. It is the first book to deeply investigate the multi-level marketing phenomenon and to fully explain how the legitimate business of "direct selling" was turned into deceptive pyramid recruiting. Ponzinomics dissects the elements that distinguish "multi-level marketing" from legitimate sales, and reveals how a "business" could become a delusional belief and a pyramid scheme a pseudo-business model. Ponzinomics reveals how multi-level marketing helped to lay a foundation on Main Street for the presidency of Donald Trump with a program of pervasive deception, financial self-destruction, authoritarian leader-worship and economic make-believe. Ponzinomics is a discomforting look at the threads of American culture, business and politics that were woven into what has become the largest scam on Main Street.