Speculative Capital Unit Four: Study overview and general reading list Concepts Discussion questions Reading excerpts Online study group on speculation Concepts Idea of an objective expression, and a subjective one. Subjective expression #1: Political expression. We've looked at kind of world. What political expression to put into play? (Harris reading) Consequences -- polarization of wealth and poverty; rise of "policed" state: 0. Protection of property from un-propertied. 1. Insure enforcement of intellectual property laws. 2. Insure repayment of risky loans. 3. Minimize fraud. 4. "Open markets" more information the better. Shift of activity from production of goods and services to trading of money, securities, etc. leads to a subjective side of the objective process. Expression in social life. Report #1: Gambling Commission + James C. Dobson Report #2: WSJ article on High Risk, day trader thing. Desperation? Need for risk? (cultivated?) -- Phenomenon of day traders "Investors beware: Day trading amounts to legalized gambling" worker goes to factory, labors ("protestant work ethic" Dobson piece) gambler goes to casino, gambles (??? ethic?) Top of page Discussion questions What sorts of infrastructure does a system of speculative capital require? What sorts of economic policies favor or enhance speculative capital? Consider the role of ideology and economic systems. What role did? does? the "Protestant work ethic" play in social life? Is there a connection between the dramatic increase in gambling over the past ten years, and speculative capital? [Harris paper, Dobson, Wall Street Journal article on day traders, risk.] Top of page The subjective side of speculation: Reading excerpts There are no additional reading excerpts for this unit. (Others may be added later.) Top of page