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Why did the Founding Fathers engage in money speculation?
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Many in the founding generation traded speculative assets like frontier land, commercial paper, and government bonds in America's early years. What were their motives? What did they think about asymmetric knowledge and insider trading? Where did they procure the capital to trade? How liquid were these investments and financial instruments? How did they deal with opacity and fraud? Did they believe that financial speculation was good or bad for the young country?
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