Here is the question:
Hobbes wrote, “The utility of morality and civil philosophy is to be estimated, not so much by the commodities we have by knowing these sciences, as by the calamities we receive from not know them.” What does he mean by this?
Can any historians shed some light on this?
I have a Finance degree and several years of finance experience.
I’m not in the field, but based on my research I’ve come to the conclusion, that record high oil prices are the result of market speculation. Sure demand has its part, but speculation is over inflating the real value of oil and negatively impacting the economy beyond any benefit I can imagine from allowing liquidity in margin trading. So to reassert my question:
Would requiring oil traders to actually take delivery of oil and thereby reducing liquidity in oil trading benefit the economy by quickly reducing oil prices worldwide or harm the economy in the long run?