Intellectual Self Defence

Brains are delicate things…

Investment versus Speculation

A tricky one in the literature, but for most purposes you could distinguish between someone trying to make a quick buck or three by currency speculating, versus someone actually building with a long-term view accepts smaller returns in exchange for, oh, I don’t know, a sustainable social and ecological infrastructure. The proposed Tobin Tax is designed to dampen down casino capitalism. Chomsky notes somewhere that since the early 70s the ratio between long-term and short-term investment has switched from 90%/10% to 10%/90%.

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