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Speculators are individuals who risk their savings trying to gain from the difference between the current and the future price of a good or service. In doing so, they themselves influence the current price, because to buy or sell at current prices necessarily increases/decreases the current demand for that good or service.

Thus, through their actions, skillful speculators contribute to more correct pricing of goods and services. Those unskilled do the opposite, but will eventually go out of business if they continue to make wrong predictions.

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Q: Speculators help or hinder economic growth?
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