FIRST EDITION OF BRACE’S THE VALUE OF ORGANIZED SPECULATION, 1913
BRACE, Harrison H. The Value of Organized Speculation. Boston and New York: Houghton Mifflin, 1913. Octavo, original burgundy cloth. $850.
First edition of this adamant defense of free equities markets and the value of speculation to society.
Written in response to a popular 1896 German decision to outlaw speculation, this work aims to defend the merits of speculation and the stock market. Here, Brace attempts to show the importance of stock trading and even speculation to the economy. Brace argues that the use of the markets as casinos would eventually decline, as would the prevalence of the stock market scams. Though Brace proved to be altogether wrong when it came to his faith in man, many of the economists who followed him shared his complete confidence in the value of the stock market. Without original dust jacket.
A very nearly fine copy.