Thursday, April 23, 2009

Book Club---or Ponzi Scheme?

A few weeks ago I received an envelope in the mail with the return address of an old friend in Indiana. Usually I hear from her at Christmas, so I was indeed curious. Inside was a single sheet of paper, a somewhat tired photocopy, instructing me to send a paperback book I have enjoyed to the person whose name and address appeared on the back of the instructions. Then I was to send copies of this letter (with my Indiana friend's name and address on the back) to six people who enjoy reading. The promise was that I'd receive 36 books.

In the past I've received chain-letters with promises of recipes and dish towels. Never once have I acquired a single item in the mail as a result of my participation. How would this be different? I can't explain it, but book lovers must be a special breed; so far I've received two very nice books (one is a hardback), and one of the recipients of my letter told me yesterday at work that her aunt is mailing me another. Whoa.....

So, now I'm trying to make mathematical sense of this process. I sent one book. Getting even three books in return far exceeds even the miracle of compound interest. Maybe I'm suspicious and jaded about "get rich quick" and "too good to be true" propositions since I deal in my work with the sad consequences of being sucked into scams. Did I unknowingly participate in a Ponzi scheme? I think I need to develop a schematic of this process. What if a person were to initiate multiple letters like this, and then sell the crop of books received on eBay?

Perhaps I should just stick to reading the books.