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Mahathir Mohamad and other critics of speculation are viewed as trying to deflect the blame from themselves for having caused the unsustainable economic conditions. A relatively quick collapse might even be preferable to continued economic mishandling.

In this view, countries may develop unsustainable financial bubbles or otherwise mishandle their national economies, and forex speculators made the inevitable collapse happen sooner. Gregory Millman reports on an opposing view, comparing speculators to 'vigilantes' who simply help 'enforce' international agreements and anticipate the effects of basic economic 'laws' in order to profit. He blamed the devaluation of the Malaysian ringgit in 1997 on George Soros and other speculators. Former Malaysian Prime Minister Mahathir Mohamad is one well known proponent of this view. For example, in 1992, currency speculation forced the Central Bank of Sweden to raise interest rates for a few days to 150% per annum, and later to devalue the krona. While investment in traditional financial instruments like bonds or stocks often is considered to contribute positively to economic growth by providing capital, currency speculation does not according to this view, it is simply gambling that often interferes with economic policy.

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Large hedge funds and other well capitalized 'position traders' are the main professional speculators.Ĭurrency speculation is considered a highly suspect activity in many countries.

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Joseph Stiglitz) however, may consider this argument to be based more on politics and a free market philosophy than on economics. Milton Friedman) have argued that speculators perform the important function of providing a market for hedgers and transferring risk from those people who don't wish to bear it, to those who do. 1.Controversy about currency speculators and their effect on currency devaluations and national economies recurs regularly.

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Check out the top 10 liberal arts colleges in the country below, and then see our full ranking of 50 here. Next, we ranked the schools based on where they fell in Money's annual Best Colleges rankings, which measures colleges by their affordability, quality and career outcomes. At least half of the bachelor's degrees had to be in arts and sciences fields. In order to be included, at least half of all degrees awarded at a college had to be bachelor's degrees (and fewer than 50 had to be master's degrees). To do so, we started with institutions the Carnegie Classification of Institutions of Higher Education defined to be baccalaureate colleges with an arts and science focus in 2018. To help you find a college where you can delve into the humanities and still have a strong chance of graduating into a good job, Money built a list of the country's top liberal arts colleges. Liberal arts grads also report being just as satisfied with their careers as their STEM-studying peers. You can still get a big-fish-in-a-little-pond type of experience at a liberal arts college.Īnd before you start worrying about becoming a starving artist, take note: Studies show there are high-paying jobs available to liberal arts grads, especially given that employers say they're looking for communication skills and the ability to work in a team. Going to college doesn't have to mean spending four years in giant lecture halls with professors who don't know your name.