Speculation Serves a Useful Social Function

5 Pages Posted: 8 Jul 2011

See all articles by Walter E. Block

Walter E. Block

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business

Date Written: July 6, 2011

Abstract

In days of yore, oriental despots commonly treated the bearers of bad news in a rather extreme manner: they beheaded them!

We have made great strides in modem Canada, at least as far as humaneness of punishment is concerned. We no longer execute messengers. But in the case of at least one type of bearer of bad news - the speculator - our present understanding and appreciation of his task rivals even that of the ancient oriental despot - in its ignorance.

Suggested Citation

Block, Walter E., Speculation Serves a Useful Social Function (July 6, 2011). Available at SSRN: https://ssrn.com/abstract=1880100 or http://dx.doi.org/10.2139/ssrn.1880100

Walter E. Block (Contact Author)

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business ( email )

6363 St. Charles Avenue
Box 15, Miller 321
New Orleans, LA 70118
United States
(504) 864-7944 (Phone)
(504) 864-7970 (Fax)

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