Source: The American Prospect
by Ryan Cooper
“According to classical Marxism, capitalism is destined to collapse on itself because of its supposed inherent contradictions. As it develops, eventually almost the whole population will end up in the working class, leading to an epic conflict between capitalists and socialist revolutionaries, with the proletariat victorious. Needless to say, this does not seem at all likely. But there is something that actually is devouring American capitalism from the inside. It’s a sort of mutant simulacrum of business, drenched in hyper-capitalist ideology, but which produces nothing and sells to no one. It’s called the pyramid scheme. That’s the story told in Little Bosses Everywhere: How the Pyramid Scheme Shaped America, a superb new book by journalist Bridget Read. She argues persuasively that multilevel marketing companies (MLMs) like Amway, Mary Kay, Herbalife, or Nu Skin operate in a predatory fashion for the benefit of a precious few.” (05/22/25)