Excerpt from The Value of Organized Speculation
The subject of this essay will appear to most minds a strange one. What can be gained, the extremist will ask, from a discussion of the value of organized specula tion, when it is perfectly obvious that it has no value and only leads to human misery? Surely, it needs no argument to prove that suicide should not be encouraged or that defalcations in positions of trust are not desirable.
What, exclaims the ardent sentimentalist, can be more plain than that it is all pure gambling? And why not sweep the whole accursed thing away, instead of discussing the question of its possible usefulness?
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