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In Defense of Speculation
Definitions Often in discussions with friends, family, and even in the mainstream media, we hear that speculation is an “unproductive” endeavor, that those earning money through speculation are leeching off others, that society is always net losing from speculation, and that speculators are really doing nothing, as opposed to workers that use their physical labor or mental labor to create products and services that bring value. When we begin to discuss this subject, it’s interesting to note that speculation has actually two different meanings, and even though they are different, they’re still somewhat related: 1. the forming of a theory or