Are We All Running as Big a Scam as Madoff?

A Ponzi, or pyramid, scheme is one whereby the early entrants get to rake off profits from the contributions of those who join the bandwagon later. Golly gosh, doesn't this sound a bit like expecting the next generation to pay for this generation's excesses? And in the process denying the coming generation any of its riches, like the nineteenth century's passenger pigeons? Hardly the spirit of generosity. The Chronicle brings up the Madoff parallel much better than I could.