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Thread: Economics is Fun, Part 8: Speculators

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    Economics is Fun, Part 8: Speculators

    Dr Madsen Pirie, President of the Adam Smith Institute, is back, attempting to prove that economics is fun.


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    Great video!

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    I wonder if speculators are more disliked in Europe than here in the U.S. It seems a natural extension of capitalism and generally speaking we seem more tolerant of that sort of thing. One of my peeves is when people say, "I'm just doing my job" but really most of us speculate in some sense, stocks for example. Some of us are just better at it than others.

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    I don't know. The prof is British of course, and he seems favorable towards them.

    I would guess the more liberal/social democratic you are the more you dislike speculation--misunderstand and dislike.

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    Quote Originally Posted by Chris View Post
    I don't know. The prof is British of course, and he seems favorable towards them.

    I would guess the more liberal/social democratic you are the more you dislike speculation--misunderstand and dislike.
    That makes sense. Speculation is just an inherent part of a capitalist system. They take risks, it's not a bowl of cherries.

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    Speculation saves lives when crisis hits. Of course the commodity price goes up....

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    Quote Originally Posted by Peter1469 View Post
    Speculation saves lives when crisis hits. Of course the commodity price goes up....
    Right. There are some parallels there with one of the earlier videos where famine was discussed in the two kingdoms.

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