Ep 008 - Collapse of Albanian Pyramid Schemes
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Ep 008 - Collapse of Albanian Pyramid Schemes
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Welcome back to Warming Up to the Cold War! This episode is all about the pyramid schemes that took over Albania in the mid-1990s and whose collapse resulted in anarchy throughout the nation. While pyramid schemes became a trend across the post-Communist bloc, they were able to reach full saturation in Albania due to the lack of trust in the federal government and the branding of the schemes as the new form of entrepreneurship. My good friend Sarah Turek of The Bad Idea Corner is back to help me discuss the distinctions between multi-level marketing companies, pyramid schemes, and Ponzi schemes as well as the huge impact the collapse had on Albanian citizens.
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