Two essays on speculation: theoretical and institutional aspects
speculation, organized markets, economic crises.
The work consists of two essays on speculation, considering theoretical and institutional aspects of the subject. The first of them deals with Keynes' theories and the changes they undergo over time, aiming to identify some of the perspectives that his writings offer, explaining speculation: i) in organized commodity markets; ii) considering its effects in systemic terms. Reading the works points to the change in the view of the speculating agent, which contributes to Keynes' analysis of the macroeconomic impacts of speculation in investment markets in the General Theory, potential generators of instability and crises. The second essay addresses the formation of organized markets in the United States and Brazil. The objective is to identify the characteristic arrangements of these institutions, which throughout history have offered examples of manipulations to determine upward and downward price movements in their respective markets, contributing to triggering speculative outbreaks.