JACOBIN MAGAZINE (June 14, 2025): The latest issue features ‘Speculation’ – The house always wins…
“In every stock-jobbing swindle everyone knows that some time or other the crash must come, but everyone hopes that it may fall on the head of his neighbor, after he himself has caught the shower of gold and placed it in safety.”
— Karl Marx, Capital: A Critique of Political Economy (1867)
“Along with a lot of worthless nonsense, the bubbles of the 1920s gave us some durable housing, highways, and a radio broadcasting infrastructure.”
We Have Always Lived in the Casino
John Maynard Keynes warned that when real investment becomes the by-product of speculation, the result is often disaster. But it’s hard to tell where one ends and the other begins.
Money for Nothing
Why the modern financial sector is better at extracting rents than funding the future.
The House Always Wins
The gaming industry is turning every smartphone into a casino — and it’s destroying more lives than ever.
Boomers Daily 