Money Manager Capitalism and the Commodities Market Bubble

L. Randall Wray

Challenge, 2008, vol. 51, issue 6, pages 52-80

Abstract: Many economists, journalists, and public policy officials have argued that speculation has had little to do with the recent rapid run-up in the price of oil. If true, a case for regulation of oil markets would be more difficult to make. But the author examines the evidence in detail and finds it highly plausible that speculation is a significant contributor to recent high oil prices.

Date: 2008

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