If you disagree, I would argue you have a very sad view of the world, where truth and cooperation are inferior to lies and manipulation.
If you disagree, I would argue you have a very sad view of the world, where truth and cooperation are inferior to lies and manipulation.
You're holding everyone to a very simple, very binary view with this. It's easy to look around and see many untrustworthy players in very very long running games whose success lasts most of their own lives and often even through their legacy.
That doesn't mean that "lies and manipulation" trump "truth and cooperation" in some absolute sense, though. It just means that significant long-running games are almost always very multi-faceted and the roads that run through them involve many many more factors than those.
Those of us who feel most natural being "truthful and cooperative" can find great success ourselves while obeying our sense of integrity, but we should be careful about underestimating those who play differently. They're not guaranteed to lose either.
While banditry can work out in the short term; it pretty much always ends up the same way. There aren’t a lot of old gangsters walking around.
There are actually fascinating theories that the origin of money is not as a means of replacing a barter system, but rather as a way of keeping track who owed favors to each other. IOUs, so to speak.
What I remember from the rational optimist - with trust, trade is unlimited.
what I remember from debt - just too much, need to read it.
That said, why would an investor give money to altman if he is untrustworthy? it just gets worse and worse.