Posts Tagged ‘stock markets’
The Role of Stock Market Speculation: DEVELOPMENT -part 3-
The economist and Nobel laureate in economics James Tobin points out that the $ 1.3 trillion exchanged every day in the financial market, few are related to productive capital, passing the savings from one country to another investment. Currently the developed world shifts to the “developing” some 200 billion dollars annually.
Most of these transactions are speculative money markets that have no direct link with the desirable investment flows. It is not productive capital that is the only capital these countries need. Read the rest of this entry »