Common Misconceptions Regarding Currency and Commodity Markets Including Environmental Effects.
1998 Series 1 Number 25 Page 7
This article was a two-page summary of a talk given to CACOR in Ottawa by Steven Kurtz. He pointed out that activists had long been using the currency and commodity markets as whipping boys when analyzing the causes the global problematic. It was sometimes being claimed that about 500 mega-wealthy individuals, who controlled over 40% of global wealth, were to blame, and that speculation neither transfers wealth from the poor to the rich nor negatively impacts the environment to the extent have so-called productive economic activities. He then went on to explore the nature of speculation. He concluded that the decline of family farms and wood lots was an indicator are the real cause of the problematic—the dominance of the mega wealthy and huge corporate entities which they control. Their monopoly somehow blinds them to the self-destructive path on which they walk with the rest of humanity.
Leave a Reply