There was a bit of argy-bargy on the share markets in America last week, when a bunch of day traders set to take on Wall Street, particularly the hedge funds who were shorting stock on Gamestop, amongst others. Were the day traders the bad guys in this scenario? Did the retail traders know what they were getting themselves in for? In this episode Prof Steve Keen suggests maybe the Robin Hood retail platform should be considered the bad guys. A step in the direction would be to reduce speculation in the market not drawing more people into it, he says on this week’s podcast, not to mention the waste of brainpower that has been exerted on this while exercise!
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Debunking Economics - the podcast