Episode 111: The fabrication of value.

In light of recent events in the stock market, Joe and I explain how current market volatility has more to do with value fabrication more than anything else.Topics:Income inequality eventually comes for the rich.All of capitalism is predicated on sustaining markets which can afford the goods and services being offered...there is no way around this.The dangers of a stock market that does not reflect real world economic conditions.The psychological construction of value.Executive compensation and perverse incentive structures. The practice of short selling is not a problem...it's when short sellers manipulate value that it becomes a problem. Capping executive compensation to a certain percentage beyond the lowest paid employee. Consequences can help correct risky and corrupt behavior.Once people discover there are no real gold coins in the treasure chest...chaos ensues. Layoffs and minimum wage jobs should be an indicator of weakness not strength.We need to bring back good ol' fashioned SHAME.