Wealth, Rationality, and Morality

Kenneth S. Choie

International Journal of Economics and Finance, 2026, vol. 18, issue 1, 9

Abstract: Most people—including mainstream academics—tend to view transactional profit as the return on an acquired asset, and the volatility of asset prices as the primary risk of acquiring one. Individuals seeking wealth can either trade assets or become long-term owners of them. However, the rate of return on assets, the nature of asset risk, and the value of diversification take on fundamentally different meanings and implications when individuals choose to be owners rather than traders.

Date: 2026
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