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Ponzi Schemes as Shadows of Reality

Plato’s Allegory of the Cave: Ponzi Schemes as Shadows of Reality

By Adebayo Olugbenga Abegunrin One of the greatest ancient Greek philosophers, Plato, in his Allegory of the Cave, accurately depicts the mindset of the average Nigerian investing in Ponzi schemes. His philosophical narrative helps explain why such schemes continue to attract Nigerian investors despite repeated failures. In The Allegory of the Cave, Plato described prisoners…

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