False Profits: Seeking Financial and Spiritual Deliverance in Multi-Level Marketing and Pyramid Schemes

by Robert L. Fitzpatrick, Joyce K. Reynolds

False Profits is an in-depth examination of the multi-level marketing industry and related illegal pyramid scheme phenomenon which have grown rapidly in the US and abroad in the last 15 years. The examination looks at the MLM field from the perspective of its social, personal and spiritual effects on those enrolled and solicited.

Genres: Nonfiction, Economics, Business, Politics

227 pages, Paperback

First published May 1, 1997

Reviews

[Beverly Garside · Rating 5 out of 5]

I just finished this very enlightening book about the multi-level-marketing and pyramid scheme sub-culture. Basically, it's an expose of this neighborhood of get-rich-quick cults complete with a single page take-down of the mathematical absurdity of its economic model, as well as the psychology and character of its victims. Being that the authors were former adherents themselves, they confess in great detail their journey from normal people to addicts in a universe of "winners" and "losers." Families and friends become mere dupes to be used to enrich the MLM member and propel them into the"winner" category. The inevitable wreckage of broken relationships, lost jobs, and depleted bank accounts leaves the addict, incredibly, craving more of the same, chasing the dragon of that one last best scheme that will actually transform them into a wealthy "winner" - at the expense of everyone else.

[Science For The People]

Featured on Skeptically Speaking show #161 on April 22, 2012, during an interview with co-author Robert Fitzpatrick. http://skepticallyspeaking.ca/episode...

[Laurie · Rating 3 out of 5]

Interesting to read about the original Airplane scam and how that evolved into the world of MLM we know today.

[Lucinda · Rating 4 out of 5]

A very relevant book, despite its age. I read it just before "Ponzinomics", its 2020 sequel of sorts, and they complement each other very well. In this book, Fitzpatrick explains how changing values in the twentieth century has made America (and many other countries) more suspectable to financial schemes including MLMs, Ponzi schemes, and other pyramid schemes.

In one section of the book, Fitzpatrick tells of when he fell for the Airplane pyramid scheme. Despite knowing he was talking about a pyramid scheme, he recalls the event in such a well-written way, that you can understand why people fall for such schemes.

[Karen · Rating 3 out of 5]

A book describing the mentality and psychology of multi-layer marketing companies, aka Pyramid schemes. Half of the book is unreadable New Age philosophizing. The other half is an interesting expose of the crassness and exploitation of these schemes and how the participants erode their personal relationships making constant sales pitches.

[Doctor Doom · Rating 3 out of 5]

Excellent testimonial and expose on the history of the pyramid scheme and its modern manifestations. The chapters on New Age I did not find especially relevant or enlightening and ended up skipping parts of them, but the rest of the novel was solid.