[OPE-L:8617] future markets

From: gerald_a_levy (gerald_a_levy@msn.com)
Date: Sun Mar 16 2003 - 08:16:52 EST

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Re Rakesh's [8614]:

> To guard against such fluctuations in spot markets, there are of
> course future markets. So I am wondering what happens to the
> analysis of market prices with the introduction of its two
> forms--spot and future markets.

While in many forms there are relatively recent,   I think that future
markets are basically just another form of speculation and that the
analysis of  future markets, while it may have a part  in a conjunctural
analysis,  is at a level of abstraction which is far more concrete than the
analysis of prices of production.  For the purposes of  the exposition
of  "basic theory", future markets can be abstracted from, IMO.

In solidarity, Jerry

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