How to Calm Down

Carrol Cox cbcox at mail.ilstu.edu
Wed Sep 2 14:35:28 PDT 1998


Doug Henwood wrote:


> If enough traders think the market has fallen far enough, they'll buy and
> drive it higher, which will draw in more traders attracted by rising
> prices, etc. The real question is when they start getting nervous and sell,
> which could be tomorrow, or could be months from now.

Someplace in Vol. 3 of *Capital* Marx declares that there is no law of interest rates, for interest rates are driven by the kind of contingent events that bourgeois economists claim drives prices, and that therefore they are utterly unpredictable. Does something like this observation apply to the stock market?

Carrol



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