History of Modern Economy: You Are a Baker

History of modern economy: You are a baker. You make a living by going to the market and selling your muffins. One day, you come to the market and there is a racketeer with a gun. He tells you, “You can continue selling your muffins but you have to give me 50% or you are dead”. Maybe you were in a fearful mood on that day. Maybe his gun was big. Maybe he threatened your child. Somebody got scared, somebody got bribed, somebody went with the flow, one thing led to another. Three generations later: It’s the Law. Ten generations later: “It’s how bakers have always done it. Don’t you know, you fool?”