Comment: In defence of short-term speculation

"In the long run we are all dead", said British economist John Maynard Keynes. The converse also contains a grain of truth: we live in the short-term. There is no reason to think that a gain made over a brief period is any worse, economically or morally, than one made over a longer time frame.

Keynes was not arguing in favour of short-term speculative gains when he made his famous observation - he was arguing in favour of governments and financial authorities taking prompt action rather than letting economic matters slide. He had no problem making short-term personal gains speculating on the stock markets, however.

WSJ Logo
Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With TrumpExternal link

Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With Trump