Monthly Archives: September 2014

Speculation vs Hedging: A False Dichotomy?

September 25, 2014

How do we make sense of the role of different participants in futures markets? According to the conventional wisdom, market participants can be put into two different categories: hedgers and speculators. Hedgers, such as farmers and other commercial entities, assume positions in the futures market that are equal and opposite to their positions in physical markets. … Read More

The Value of Corporate Nationalism

September 5, 2014

Canadians take pride in Tim Hortons. It is an icon of contemporary Canadiana. When news emerged that Burger King (BKW) was planning a takeover, the media was filled with stories of people’s outrage. The political economic issues this raises are myriad. For example, what value is there to the passion of Canadians for Tim Hortons … Read More