Chapter 3: Moralizing Finance – Eliminating Speculation, Valuing Production and the Worker

Introduction: A Diverted Finance

It is economically unhealthy to give space to financial speculation, which distorts economic reality through often misleading projections.

Stockbrokers and even entire institutions distort and complicate economic data. They are intermediaries and “over-billers” who burden the economy in an anticipatory and exaggerated manner. No one outside of them sustainably reaps the dividends of these operations.

The repeated resale of debts makes them increasingly unmanageable. A broker may allow himself to gamble on a product not yet manufactured in order to secure a dominant position in the market later. Hoarding is harmful.

The market must submit to the law of the producer, not that of the stock speculator. The latter contributes to product inflation while being a parasite in the system. At best, he should only be a facilitator.

Production and ancillary costs alone should determine