Speculative capital

Author: Naser
Publisher:
Publish Date: 2002-05-01
Features: The effect of speculative capital—the relaxation of market regulation, the rise of derivative financial instruments, and the increase in market volatility—has occurred right before our eyes. However, speculative capital is not mentioned in financial textbooks. Of course, they all mention speculation, but in these books, speculation is always defined as the behavior of speculators, who are mischievous but well-intentioned players in the financial field, bringing liquidity to the market, just like Prometheus bringing fire to humanity. This is their simple role on the economic stage. At that time, we did not discover the other functions of speculation. But the theme of finance is not people, but the capital in circulation. When our focus shifts from the speculator as a person to the capital as a thing, speculative capital easily surfaces—speculative capital is the total capital in the market that aims at speculation—it is very distinct. In the process of discovering speculative capital, we also uncover the powerful force of the invisible hand in the market and its significant consequences. This book is a journey, like all journeys, we also have a purpose: to gather the operational outcomes of speculative capital in the fields of finance, law, and politics into one focal point. After speculative capital has infiltrated the financial market and increased its volatility, after it has connected global markets and brought the dawn of "global finance," after it has influenced the introduction of a more relaxed regulatory era in law and politics, where should the operations of speculative capital now point? Please keep reading.