TITLE

ON THE PROFITABILITY OF SPECULATION

AUTHOR(S)
Hart, Oliver D.
PUB. DATE
November 1977
SOURCE
Quarterly Journal of Economics;Nov77, Vol. 91 Issue 4, p579
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article classifies the role of speculators in economic activity of the U.S. Most noneconomists would probably argue that speculation is socially undesirable for two reasons. First, speculation increases uncertainty about the future by creating disturbances and fluctuations in the economy. Second, by engaging in speculative activity, traders who exert an important influence in a market may be able to make profits at the expense of smaller traders who are not primarily involved in the market for speculative purposes.
ACCESSION #
4625155

 

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